Tribune Outlines Plan To Cut Costs, Raise Revenue

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: Chicago Tribune Media Group outlines plan to cut costs, raise revenue : By Phil Rosenthal | Tribune media columnist : February 7, 2009 : --------------------------------------------- : In response to what he called a "very challenging, uncertain environment," Chicago Tribune Media Group President, Publisher and Chief Executive Tony Hunter on Friday told employees of plans to cut costs, raise revenue and reallocate resources. : Some jobs will be eliminated, and others will be added where there's potential revenue growth. There will be a wage freeze. Home subscribers will see a price increase to offset some of the increased costs of production and distribution, Hunter said. : The specifics of these moves were not provided. : Although Hunter said the Chicago Tribune's news coverage online and in print was "extraordinary," he noted: "The recession has had a dramatic impact on our revenue performance. We are experiencing significant declines across all key categories. And it doesn't look like there's any relief in sight." : Among targets of opportunity, Hunter cited increased cross-media sales and business services. : "Unfortunately, these revenue-generating efforts aren't enough to stem the decline in cash flow," he wrote, noting the company will be "right-sizing" itself as part of its standard operating procedure going forward. : Tribune Co.'s Chicago Tribune Media Group includes the Chicago Tribune, RedEye, Hoy, Triblocal, Chicago magazine and associated Web sites such as chicagotribune.com, chicagobreakingnews.com and triblocal.com. : Tribune Co. is reorganizing under Chapter 11 bankruptcy protection so it can manage its heavy debt load.

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