Gannett Confirms More Newspaper Layoffs at Regional Papers

Cuts coming from local papers in their group

   

Gannett Confirms More Newspaper Layoffs at Regional Papers

Gannett (GCI) admitted on Tuesday that newspaper layoffs have been occurring at some of its 82 properties in the last few weeks.

USA Today, which is owned by Gannett, reported that there was no official number of cuts, but that the company’s more local papers were using layoffs to best meet their financial goals. On Monday, it was reported that The (Wilmington, Del.) News Journal was cutting nearly 30 staff positions.

From USA Today:

Cutbacks have been a frequent phenomenon at newspapers in the digital era as readers and advertisers have gravitated to computers and mobile devices. Gannett’s newsrooms, like many others, have increased their investment in digital operations as part of the company’s transformation strategy in an effort to depend less on print revenue.

In June, Gannett bought competitor Belo for $2.2 billion, which would increase its broadcast portfolio from 23 to 43 stations. The deal is expected to close by the end of the year.

USA Today was not effected by the layoffs.


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/gannett-confirms-more-newspaper-layoffs-at-regional-papers/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.