www.newspaperdeathwatch.com
There's a website who watches Media General's antics. I'm not the only one. The link is above. What are they saying about Media General? What we all know - Media General doesn't care about the towns it serves. This is what www.newspaperdeathwatch.com had to say about Media General:
More Layoffs Sweep Newspaper Industry
By paulgillin | May 26, 2008 - 7:37 am - Posted in Business News, Regulation, Demographics, Newspapers, Layoffs
Media General expanded its cost-cutting initiative, announcing plans to lay off 500 employees by July on top of the 250 laid off last year. The reduction amounts to 11% of the company’s 6,900-person workforce, an unusually deep cut even in these troubled times. Media General has been hammered by its exposure to weak Florida and California markets, where real estate advertising has shriveled and the recession is being felt more deeply than in other parts of the country. Most of the job cuts will come in the publishing division. Media General also owns 22 broadcast stations. The company will add 60 jobs in interactive media.
StopBigMedia.com smells a rat. The advocacy blog notes that Media General was one of the biggest beneficiaries of the FCC’s decision to lift its 30-year-old ban on media cross-ownership. The layoffs are thus hitting geographies where readers already have little choice in media, meaning that Media General will simply hack away at quality in the name of profitability, the blogger alleges. It appears, though, that the FCC’s decision will be reversed by Congress.
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