And let's not even look at the newspaper debacle...my gosh, the Tribune Company, which owns the Los Angels Times and the Chicago Tribune, may have to file for bankrupcy.
ETA: they gone and done it! Tribune files Chapter 11...whoda thought they'd see the day?!
Sorry Sam Zell...you go from a fistful of dollars to a frightningly large debt.
Zell and the other muckity-mucks at Tribune are telling all the employees that things will go on as usual, everyone will keep their jobs...I wonder for how long.
Things are really getting tough out there for us newsies. :(
From Shoptalk:
ABC executives are considering cuts to the news division. The focus would be on a slimming down of political units the network bulked up during the presidential campaign.
Rumors about the cuts have been circulating for weeks now around the ABC News offices, but the rumors have numbers: The cuts could affect as many as 35 staffers and would take effect in the new year.
In recent days, a number of other media companies with large television divisions have moved to reduce their staffing costs. On Dec. 4, Viacom announced that it was cutting more than 850 jobs or roughly 7 percent of its workforce. The same day, TV Newser first reported that NBC Universal will be slashing some 500 jobs across various divisions of the company, amounting to 3 percent of the work force."
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