US: Cox Enterprises, newspapers no longer "highly profitable" but hope to get "positive earnings"
Posted by Alisa Zykova on June 26, 2008 at 12:01 PM
Cox Enterprises-owned Palm Beach Newspapers Inc. (owner of the Palm Beach Post, Palm Beach Daily News, the Florida Pennysaver and La Palma) announced that it would be cutting 300 staff members out of the total 1,350, Palm Beach Post Online wrote. Sandy Schwartz, president of Cox Newspapers, wrote a memo to publishers of other Cox Ent. papers, PaidContent.Org reported.
Schwartz wrote:
"We have no expectations newspapers will return to the highly profitable days of the past; we do believe, however, we can publish newspapers that continue to make us proud and produce positive earnings."
In the memo, publisher of Atlanta Journal Constitution, John Mellott, added:
"Our AJC 2.0 efforts are in final prototyping stages. Our digital traffic continues to climb, and this week, we begin overarching digital strategy work."
Source: PaidContent.Org, Palm Beach Post Online
See also:
US: Cox Newspapers going mobile
USA Today founding editor; long live newspapers
Schwartz wrote:
"We have no expectations newspapers will return to the highly profitable days of the past; we do believe, however, we can publish newspapers that continue to make us proud and produce positive earnings."
In the memo, publisher of Atlanta Journal Constitution, John Mellott, added:
"Our AJC 2.0 efforts are in final prototyping stages. Our digital traffic continues to climb, and this week, we begin overarching digital strategy work."
Source: PaidContent.Org, Palm Beach Post Online
See also:
US: Cox Newspapers going mobile
USA Today founding editor; long live newspapers
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