|
|
Enron Mail |
Good Morning Team,
The Orange County Register will eliminate 102 positions of the newspaper's 1,749 full time employees on Friday, as a result of decreased circulation and revenue due to weak advertising compounded by the September attacks. As of March 31, the Register had a daily circulation of 353,334 and a Sunday circulation of 410,207, with an annual NP consumption of 120,000 MT. -- Media General reported a 3Q01 loss -- its first quarterly loss in 4 years. ``The terrorist attacks of September 11th had an immediate impact on our earnings, and they have exacerbated the economic uncertainty that has caused many of our advertisers to remain cautious,'' Chief Executive J. Stewart Bryan III said. Revenues for 3Q01 were down 4% from the same period in 2000. Media General's publishing division, which includes the Richmond Times-Dispatch and the Tampa Tribune, had a revenue decrease of 5.4%. -- Sun Media eliminated 125 more jobs in cost-cutting measures intended to save $10 million annually. The Quebecor subsidiary - publisher of such major dailies as the Toronto Sun and Le Journal de Montreal - announced it is combining the business operations of its Bowes Publishing division, which produces over 190 weeklies and community dailies, with those of its metropolitan dailies. As well, it is ending production of its free Toronto commuter daily, FYI Toronto. The end of FYI Toronto should provide some immediate relief to other Toronto dailies, such as the Toronto Star, and possibly increase demand for Toronto dailies... October abounds with job cuts and 3Q01 losses... none of this comes as a surprise in light of the bleak ad market and the negative shock of the September attacks. As a result, many publishers are looking to cut costs to recover from decreased ad revenues. If you would like more information on a particular publisher, I would be happy to oblige. Ayesha
|