At BuzzMachine, Jeff Jarvis says the New York Times should force the Boston Globe into bankruptcy:
[The Globe is] losing $85 million a year. They saved only $20 with recent concessions. It could bring The New York Times down. Time for radical surgery.
Speaking of bankruptcy (and layoffs, and pay cuts and out-of-print): The Wall Street Journal maps the decline of the nation’s top newspapers since 2006.
Posted in news industry, newspaper bankruptcy, newspaper cutbacks, Newspaper industry, newsroom layoffs, Out of print
Tagged bankruptcy, Boston Globe, BuzzMachine, Jeff Jarvis, New York Times, newspaper cutbacks, Newspaper industry, newsroom layoffs, Out of print, Wall Street Journal
The rich keep getting richer. But not if Connecticut Attorney General Richard Blumenthal can help it. The New Haven Independent reported yesterday that Blumenthal is attempting to block bonuses to executives at the New Haven Register, which filed for bankruptcy protection on Feb 21:
The filing included a proposal to give 31 “key” executives $1.7 million in bonuses — some termed “shutdown bonuses” — if they meet certain goals. Those goals mainly consist of shutting down newspapers and firing 450 more full-time employees by March 31 (for a total of 590 to date). …
Posted in news industry, newspaper bankruptcy, newspaper cutbacks, Newspaper industry, newspapers, newsroom layoffs
Tagged Attorney General Richard Blumenthal, bankruptcy, Chapter 11, executive bonuses, New Haven Independent, New Haven Registry, Newspaper industry