Layoffs at Ventura County Star

[buckweaver]

http://www.laobserved.com/biz/2008/02/layoffs_at_ventura_c.php

Seven jobs were cut, none in editorial, but it's the first time the Star has ever had layoffs, according to LAO. One of the few SoCal papers not owned by Singleton.

 

[Left_Coast]

Not yet ...

 

[Guybehindtheguy]

Not yet ...

You can bet your ass that as soon as Scripps can find a buyer to take their print product, they'll be gone. I heard recently they're trying to split the media holdings into two halves, one for online/tv and the other for newspapers. guess which one will be around in 5 years?

 

[MileHigh]

Not yet ...

You can bet your ass that as soon as Scripps can find a buyer to take their print product, they'll be gone. I heard recently they're trying to split the media holdings into two halves, one for online/tv and the other for newspapers. guess which one will be around in 5 years?

There's no trying about it. Scripps is in the process of doing just such a thing. It will be completed sometime in the second quarter.

 

[Greatescape]

Re: Scripps

Just to clarify, yes, Scripps is in the process of splitting into two companies. One would be its cable TV holdings (HGTV, etc) and internet-based business. But the other doesn't just put the newspapers on an island by themselves; it will include local TV stations that Scripps owns. The theory is that one company can offer more growth potential, while the newspapers/local TV company will be able to provide investors are steady return on their investment ... Now whether that means Scripps won't entertain offers for its newspapers, we'll see. But as long as it isn't a Gannett courtship, I'm good.

 

[jadzia]

Didn't Belo just complete a similar split, breaking off the Dallas Morning News and its other daily papers into a separate company?

 

[Editude]

Belo did, and the newspaper component lost more than 10 percent of its stock value the first day it was offered.