»
In one of his frequent “Talk to Sam” emails, Tribune Co. chief Sam Zell announced to employees that the company would cut staff by 400 to 500 people companywide.
The Los Angeles Times reports that it will eliminate 100 to 150 jobs, with 40 to 50 of them in the newsroom.
The cuts will be focused on the corporate staff and the company’s newspapers. The broadcast division will be spared for now as Fox TV vet Ed Wilson, who came aboard last week to run the operation, evaluates the business.
Zell bought the company last year. Since then, advertising revenues for newspapers have slipped significantly due to the severe real estate slump and fears of a possible recession in combination with the ongoing competition from internet rivals. Through the third quarter of 2007, Tribune’s cash flow declined by 12 percent from a year earlier, and observers both inside and outside the company say the situation has worsened since then.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
The 82nd annual Macy’s Thanksgiving Day Parade pulled an average 12.6 rating/26 share on Thanksgiving morning, Nov. 27, according to Nielsen.
That was 8% higher than its telecast last year, Mediaweek writes. NBC estimated that a total 44.7 million viewers…
Time magazine ousted Cosmo as the top magazine for college students in this year’s Anderson Analytics fall survey.
Time also jumped past People, which was last year’s No. 2, writes Ad Age. A Time spokesperson said the magazine did not run…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
