This week ended with eight veteran Regina Leader-Post journalists and nine from the Saskatoon StarPhoenix taking buyouts and going out into the cold unknown. The L-Pers are all from my generation of employees (I left in the 1996 downsizing). Bummer. :(
When we last checked in with Postmedia, Canada’s largest newspaper company was looking to cut an additional 20 per cent from salary costs, mainly due to a disastrous plunge in print advertising revenues. That’s why it’s heartening to know, in this month before Christmas, that the company managed to find $2.3 million in bonuses for […]
As print revenues continue their steep decline, Postmedia announced it wants to reduce salary costs by a further 20 per cent.
Postmedia is seeking to cut about half its debt, thus slashing interest costs, in order to keep afloat.
Former journalist Arthur Kent — who achieved fame in the 1990 Gulf War, earning the nickname the “Scud Stud” — has won an eight-year war with the Postmedia newspaper chain. A judge awarded Kent a total of $200,000 in damages from defendants Postmedia and former National Post columnist Don Martin for a column that ridiculed […]
On Jan. 19, 25 people were let go from the Edmonton Journal, including editor-in-chief Margo Goodhand (Postmedia CEO Paul Godfrey said some bosses had to go to, along with the worker bees). Goodhand penned an article for Walrus magazine about the experience and what it means to newspapers.
From the Toronto Star (“Postmedia pushing for looser foreign-ownership rules“): Postmedia is pressing its case for an easing of newspaper foreign ownership restrictions as it faces U.S. currency debt repayment burdens CEO Paul Godfrey has likened to a “noose around your neck,” sources say.
Toronto Star columnist David Olive takes a tough look at the corporate basket case that is Postmedia and lays out some ownership models that might be more in the public interest.
The Globe and Mail‘s Simon Houpt on the hidden costs of shedding journalistic staff from local newsrooms.
Postmedia, in response to a desperate need to cut costs and service its debt, cut 90 staff and merged newsrooms in Vancouver, Edmonton, Calgary and Ottawa.