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Tribune Company orders $100 million in cuts.

Discussion in 'Journalism topics only' started by BTExpress, Sep 27, 2013.

  1. BTExpress

    BTExpress Well-Known Member

    And that $100 million is entirely from the newspaper division.

  2. boundforboston

    boundforboston Well-Known Member

    Tribune proposal: Its newspapers will have to pay rent and a dividend: http://www.nytimes.com/2013/12/23/business/media/plan-for-tribune-spinoff-raises-concerns-for-future-of-newspaper-operations.html?smid=tw-share
  3. Cousin Jeffrey

    Cousin Jeffrey Active Member

    Looks like Jim O'Shea should write a sequel. http://articles.latimes.com/2011/jun/28/entertainment/la-et-book-20110628
  4. steveu

    steveu Well-Known Member

    That was such a good book. Sam Zell's associates were such idiots, and the news judgment they employed... ouch.
  5. Joe Williams

    Joe Williams Well-Known Member

    "They" as in ownership, but yet talked of as if it's the enemy. Boo-effing-hoo. Earn your keep, pay your way. Rent is a fact of life. And gee, newsroom leadership has done such a crackerjack job in the past with "online ventures and exploring new markets," right? Drips with sense of entitlement that explains a lot about the political bias inherent in newsrooms.

    Too bad, so sad.
  6. Mizzougrad96

    Mizzougrad96 Active Member

    I hope the Ghosts of Newspapers Past visit the assholes who run this organization tonight and instead of Christmas Carol it turns into a Hostel type deal.
  7. Baron Scicluna

    Baron Scicluna Well-Known Member

    They're still owned by the parent company. Tribune is just putting in some paperwork saying that they're (wink, wink), with a different company.

    It's like a kid moving back home with his parents after college. The kid gets a job, and pays some rent to his parents. After a while, the parents kick the kid out, but tell him that he now has to pay additional rent and an additional part of his salary because the parents are no longer getting rental income because they kicked their kid out.
  8. Michael_ Gee

    Michael_ Gee Well-Known Member

    This is a shell move to allow Tribune Co. to borrow money to pay higher dividends to stockholders -- stockholders like senior management. In a country not run by large corporations (try and find one!), this would be a jail time move.
  9. JimmyHoward33

    JimmyHoward33 Well-Known Member

    If the newspapers own/owned the buildings and now corporate is going to make them pay rent, when they presumably aren't getting a big fat check for the worth of the buildings first....that's theft not entitlement.

    One of the benefits of owning a place is not paying rent. A company renting its own property to itself seems ridiculous.
  10. JayFarrar

    JayFarrar Well-Known Member

    Rent was paid on my old newsroom that the company "owned." Real estate was split off and incorporated as its own company and my paper, among others, paid rent on the buildings they used.

    It was explained, then, that it had tax advantages and such but it also meant as the downtown became more of a destination and the property value increased, we had people, from time to time, come by and look.

    Then we moved to another building because we had office space for hundreds and because of layoffs we were down to dozens.

    So it goes.
  11. Baron Scicluna

    Baron Scicluna Well-Known Member

    Next up: Tribune makes employees pay rent for their desks and computers.
  12. Screwball

    Screwball Active Member

    Even Bud Selig could see that:

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