Newspapers cutting best resources, struggling even more to survive
Posted by Evan Fell on December 10, 2007 at 1:05 PM
2008 will bring even more changes to the newspaper industry, according to Phil Rosenthal of chicagotribune.com. Revenue declines and the costs of investing in traditional media and competing on the Web will probably mean more job and resource cuts at news outlets in 2008.
NBC has announced it will be making cutbacks everywhere besides CNBC, which competes with Murdoch’s Fox Business Network. At Dow Jones & Co., which Murdoch's News Corp. expects to take over next week, executives have already begun to leave.
The Chicago Reader, a free weekly has cut every aspect recently, from page size to payroll. Four positions were sacrificed Thursday in what Editor Alison True said in a memo to staff could be attributed to "the financial pressures of our industry [that] continue unabated." The four staff writers cut "produced some of our most important and exciting" pieces, according to True, but financially, it just did not work anymore.
Tribune Co. is close to the year-end close of its $8.2 billion deal to go private. Clear Channel Communications has pushed the close of its deal to go private into next year. Those deals will certainly require more work, with less staff and resources.
Many papers have, and will continue to have to, cut their best staff and resources in response to the financial hardships that continue to plague the industry. This only puts more pressure on papers, forcing them to compete without their best staffers.
Source: chicagotribune.com
The Chicago Reader, a free weekly has cut every aspect recently, from page size to payroll. Four positions were sacrificed Thursday in what Editor Alison True said in a memo to staff could be attributed to "the financial pressures of our industry [that] continue unabated." The four staff writers cut "produced some of our most important and exciting" pieces, according to True, but financially, it just did not work anymore.
Tribune Co. is close to the year-end close of its $8.2 billion deal to go private. Clear Channel Communications has pushed the close of its deal to go private into next year. Those deals will certainly require more work, with less staff and resources.
Many papers have, and will continue to have to, cut their best staff and resources in response to the financial hardships that continue to plague the industry. This only puts more pressure on papers, forcing them to compete without their best staffers.
Source: chicagotribune.com
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