The Star-Ledger announces large-scale buyout offer

[brentspeak]

Source: The Newark Star-Ledger

The Star-Ledger announces large-scale buyout offer
by Steve Chambers/The Star-Ledger
Thursday July 31, 2008, 7:20 PM

The owners of The Star-Ledger announced today they will sell the newspaper if they cannot win union concessions and persuade a large number of non-union, full-time workers to take buyouts in the next two months.

The owners set a deadline of Oct. 1 for getting 200 of the paper's 756 non-union full-time employees to take a buyout and for achieving the union concessions. The paper's total workforce is 1,412.

The offer comes at a time when the newspaper industry is reeling from plunging advertising revenues linked to a troubled economy and the growth of online media.

The news was announced to grim-faced employees by Publisher George E. Arwady at the paper's headquarters in Newark this morning. He characterized the paper as being "on life support" and urged employees to consider the offer for the good of fellow employees.

Read more: http://www.nj.com/news/index.ssf/2008/07/starledger_announces_largescal_1.html

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Another venerable newspaper that might go the way of the Titanic.

[madrchsod]

1. craigslist has taken millions in ad revenue

from newspapers across the country. it`s easier and cheaper to read my local paper on the internet than the paper edition

[FogerRox]

2. Ledger sucks, always making mistakes, printing bush propaganda

Fuck 'em.

[PMC6]

3. It's a worthless right-wing rag

Good riddance to it. I subscribed to it when I moved to Millburn 4 years ago, but dropped it cold after a year because its obvious bias made me mad every time I opened it.