Tribune Publishing -> tronc

Posted this first on the DFM thread, but it belongs here instead...

Layoffs today at the Tribune, but nothing officially announced to employees. Oh how nice!!!

 

This:



Followed by this:

 

Michael Ferro now stepping down, what's next?

Newsonomics: “Retiring” from Tronc, what is Michael Ferro up to?

 

Former Tronc Chairman and Investor Michael Ferro Accused of Inappropriate Advances by Two Women

 

Paper has been a shell for a while, padded out to minimal size with "tronc" content from L.A. and other cities in the chain.
In the span of maybe two years, I started a subscription four times out of desire to support newspaper journalism.
Cancelled it four times, too, when I could no longer tolerate the biased agenda of its news content.
Gave them four strikes. Now they out.
I wouldn't watch games, either, where the referees or the umpires were in the bag for only one side.

 

It has nothing to do with journalism anymore. It's all about lining the pockets of a few top execs and treating employees like total scum. LOL at the HR departments. They really do a fine job for the employees ... I mean preventing lawsuits for the suits. It's all so sad.

 

Tronc operating profits for 2017 were up 13 million dollars even though the fourth quarter was down by 14 million dollars. Tronc assumed control of the New York Daily News on September 3. So the Daily News is a huge drag on profits. I thought the strategy in buying the Daily News was to establish a New York foothold in order to build a national digital paper. But selling Los Angeles blows that idea up. How long will Tronc carry it?

Advertising revenue was down double digits at Tronc in 2017 so if that trend continues, and I think other chains are seeing that is, Tronc may need to cut losses.

Other problems at Tronc are that print advertising was down 20%. Digital subscribers are at 320,000 (I think that counts LA) for nine newspapers, generally in huge markets.

On the conference call management talked about how strong the New York Daily News digital operations are. I pay 99 cents monthly for my Daily News digital subscription. So if that is a strong showing what the hell is a weak showing?

 

Gannett to move newspaper printing operations from York to Wilmington

This is the second story I've seen of Gannett closing down a printing plant. Making room for buys?

 

Much more likely making room for corporate management bonuses.

 

Meanwhile, at the Sun-Times:

There are 2 daily newspapers in Chicago, but only one works as hard as you

 

The link says that the Tribune just sacked their Washington reporter and their Blackhawks and White Sox beat writers. While Tronc might try to have some kind of national bureau provide Washington material for the Tribune surely they will continue to staff the local NHL and MLB teams.

 

Comments are gold, again, though - especially those pointing out the Sun-Times shouldn't be so gleeful about the Tribune's cuts, especially considering it sacked the whole photo dept. a few years ago.