BY SDH
The Newspaper industry seems to be headed for shitsville, but people in the biz will tell you that, all the job cuts and write downs is due to the Bushed economy. This may be true but they also have to admit that the Internet is kicking their ass on some levels. Anyway, with all the shitty news coming out of that industry we raked some together for you here.
- OK! In totally newspaper related news, former newspaper king, Conrad Black is headed to prison on Monday for raping his company. We totally forgot about this scum bag.
- Harbinger Capital Partners and its affiliate Harbert Management are serious about taking the fight to the New York Times Co. They believe The New York Times Co needs fresh meet. But you better believe the Sulzberger family is preparing for it. They will lose that company at some point, but it will be at a time of their choosing.
- Newsday is axing bodies like a horror flick due to what they call an urgent need to focus on the things that drive audience and revenue growth, Translation: The Internet!!!
- McClatchy's value is half way down the shitter due to the value write down of its publications for the second time in four months. The company's market value has dropped 51% . WOW!!!!
- Another paper that's cutting jobs is The New York Times' Boston Globe but staffers of the paper's website Boston.com will be speared. Of course they will be because the money saved from the job cuts will probably be dumped into improving the website. Hopefully they spend some on the redesign of the logo. The current one looks like something someone did in Word Art.
- The San Jose Mercury News read and used to clean up coffee spills by the techies in Silicon Valley, is cutting back on news coverage because it's reporting staff is being chopped down to an anemic 200. So does this mean the paper will live with the possibility of missing out on some news?
Labels: LAYOFFS, McClatchy, NEWSPAPERS, NYTimes |
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