Posted by chicagomedia.org on April 14, 2009 at 07:23:07:
In Reply to: Chicago Tribune To Pare Newsroom 20% posted by chicagomedia.org on April 14, 2009 at 07:21:58:
Chicago Tribune planning for an '09 without revenue uptick
Top Chicago Tribune management on Monday said the paper's advertising revenue is off more than 20 percent so far in 2009 and they are operating on the assumption that will not change this year.
All the paper's departments have been asked to identify opportunities both to create value as well as eliminate costs. This will mean job cuts throughout the paper even as some operations expand, according to Chicago Tribune Media Group President, Publisher and Chief Executive Tony Hunter.
"Doing nothing, as far as we can see in the near-term, is not a decent strategy," Hunter said.
Countering an earlier online report from Crain's Chicago Business that specified newsroom cuts, Hunter and Tribune Senior Vice President and Editor Gerould Kern said there is no number yet attached to the coming reductions, which will affect all departments, not just editorial. They said the moves will reflect shifting priorities along with the paper's need to remain in the black.
"We are reorganizing the newsroom to meet our strategic goals, respond to the current economic downturn and position ourselves for success in the future," Kern said. "It would be premature to say more at this time."
Chicago Tribune parent Tribune Co. -- profitable but struggling with the debt taken on in going private in late 2007 -- filed for Chapter 11 bankruptcy protection in December.
(Phil Rosenthal, Chicago Tribune)
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