Axe falls on Arizona Republic staff (again)

[Source: Adam Klawonn, The Zonie Report] — If you’re a news junkie like me, then please take a moment of silence today for the latest round of laid-off staffers at The Arizona Republic, which has undergone major changes over the past two years as its parent company, Gannett Corp., deals with a failing business model.  Gannett’s stock price, once in the 80-dollar range, went up 9 cents this morning to $3.18 per share.

This once proud, family owned paper has continued its ungraceful downward spiral as core advertisers — homebuilders, automakers/dealers and retailers, among others — cut back on their advertising budgets and spend what’s left on the Web.  The newspaper charges at least $329 per inch of dreary black-and-white advertising but offers a variety of pricey online advertising options.  Conversely, Facebook fan pages are free, and for $329, you could run a pretty killer online ad campaign yourself.  You get the picture.

Back to the layoffs.  The 20 names cover a variety of departments -– from news to sports to graphics and more -– that affect the daily digest you may receive of just what the heck is going on in Arizona.  Recently, information has been more important than ever as the state Legislature makes cuts that affect us all.  [Note: To read the full blog entry Axe falls on Arizona Republic staff (again)]

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Posted on July 13, 2009, in Finances, Media and tagged , , . Bookmark the permalink. Leave a comment.

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