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L.A. Times buyouts

Discussion in 'Journalism topics only' started by MileHigh, Apr 21, 2007.

  1. MileHigh

    MileHigh Moderator Staff Member

    Hope this isn't a d_b


    Cuts expected to be announced Monday. 150 overall, with 70 from the newsroom.

    Tribune had a $217 million operating profit in the first quarter of the year.
  2. BTExpress

    BTExpress Well-Known Member

    To be fair, "operating profit" is a company's earning power from ongoing operations, equal to earnings before deduction of interest payments and income taxes.

    Tribune has a ton of debt (interest payments) and a staggering tax liability.
  3. OTD

    OTD Active Member

    Yes, let's be sure to be fair to the fine folks who lead the Tribune corporation.
  4. MileHigh

    MileHigh Moderator Staff Member

    OK, take away half of that. So their profit was, what, $100 million? For a quarter. I know it's not Google (two straight quarters of $1 billion profits), but still ....
  5. spaceman

    spaceman Active Member

    anyone in sports?
  6. BTExpress

    BTExpress Well-Known Member

    Actually, story says operating profit declined 16% to $181 million from $217 million.

    So shoot me for being fair and accurate.
  7. Clerk Typist

    Clerk Typist Guest

    A Zell of a note, this.
  8. fishwrapper

    fishwrapper Active Member

    Wow. Are you always able to turn a phrase like that?
  9. steveu

    steveu Well-Known Member

    Nice pun. Actually, this isn't his fault yet... he hasn't taken control of Tribune. Now if he does this WHEN he takes charge, then all bets are off.
  10. SF_Express

    SF_Express Active Member

    I'm hoping for the best for a number of former colleagues who I still count as friends.

    And yes, this has nothing to do with Zell yet.
  11. SoCalDude

    SoCalDude Active Member

    This is probably the same situation as when Singleton bought one of his news groups in SoCal. He had it written into the deal that the outgoing ownership had to do the layoffs. Singleton took control Nov. 1, Oct. 31 was a bloody Halloween in those newsrooms.
  12. Birdscribe

    Birdscribe Active Member

    That was Long Beach, wasn't it, SoCal? I remember when he came in there and laid waste to the place. Ugly, ugly happenings, between the mass firings and the 20-30% pay cuts.

    That used to be a good paper. :'(
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