Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

11/21/2013 (7 months ago)

Catholic Online (www.catholic.org)

Tribune says no cuts to editorial, yet.

Tribune Co, the parent company of the Chicago Tribune, Los Angeles Times, and six other daily newspapers, is laying off nearly 700 staff as part of a restructure. The change comes as ad revenue and print sales continue to decline.

Tribune Co. is cutting 700 jobs as part of an effort to save between $70 and $100 million.

Tribune Co. is cutting 700 jobs as part of an effort to save between $70 and $100 million.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

11/21/2013 (7 months ago)

Published in Business & Economics

Keywords: Tribune, editorial, cuts, staff, cost, print, transition, digital


LOS ANGELES, CA (Catholic Online) - The internet and the iPad have changed traditional journalism forever. The most recent evidence is the restructuring of the Tribune Co. A memo to employees informed them of the changes which involves structural changes and layoffs.

Layoffs will impact staff in technology, marketing, and in other departments, but not editorial. The company says it will retain its editorial staff to maintain its "best in class" rating. However, the company did mention that there would be minor cuts to editorial staff, coming later.

Structurally, the company is combining "advertising, marketing, manufacturing and digital media under common leadership," according to its own report on the changes. The change is expected to save about $75 to $100 million in annual costs. It is not expected to diminish editorial output or quality.

These changes are a response to changes in the way news is produced and consumed, and how much people pay for advertising. The internet now allows real-time bidding on advertisements, which allows advertisers to find better rates with better targets across all media. This hyper-competition continues to slash advertising revenues for newspapers year-over-year.

Also different is who is producing news. A growing population of bloggers and less-trained, amateur journalists are writing news reports which are being widely consumed. The final nail is the transition of readers to electronic devices, away from actual print-on-paper.

What once cost money, or required a person to tune in and watch, is now available largely for free, anytime and anyplace.

Still, newspapers are working hard to transition o the digital realm. More large publications are erecting paywalls, compelling readers to buy subscriptions for the news from sources they prefer to read. Websites also incorporate video and related content as well as targeted advertising, which makes them more effective at engaging readers and generating revenue.

Still, few have mastered the art, and they continue to struggle, downsizing as they go.

Meanwhile, other publishers such as Catholic Online and the Huffington Post are entirely digital from the start and have been successful in the new realm of digital media. A formula for success already exists, but for the dinosaurs of print, the transition won't be easy.

A birth foretold: click here to learn more!

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for July 2014
Sports:
That sports may always be occasions of human fraternity and growth.
Lay Missionaries: That the Holy Spirit may support the work of the laity who proclaim the Gospel in the poorest countries.



Comments


More Business & Economics

The buck does stop here: Chinese currency set to close the gap between it and the dollar Watch

Image of A new study from China indicates that the Chinese yuan is likely to become the third most used international currency by 2019.

By Catholic Online (NEWS CONSORTIUM)

China's currency, the renminbi (RMB), is looking to become the third-largest international currency behind the U.S.'s dollar and the euro by 2019 said the Renmin University of China in a report published on July 20. LOS ANGELES, CA (Catholic Online) - Last year, ... continue reading


Financial consultant warns that U.S. is entering third largest stock bubble Watch

Image of A new study by financial consulting firm Smithers & Co. warns that the U.S. is entering another major stock bubble, the third largest in U.S. history.

By Catholic Online (NEWS CONSORTIUM)

A new research report by financial consultant Andrew Smithers, chairman of Smithers & Co., suggests that the U.S. is in the midst of another stock-market bubble, much like the bubbles in 1853, 1906, 1929, 1969 and 1999. LOS ANGELES, CA (Catholic Online) - ... continue reading


WARNING: The most important article you may ever read - We need a moral revolution at the top, before pitchforks appear in the street Watch

Image of In the game of plutocracy you start by owing money to the bank and as it progresses, you owe more.

By Marshall Connolly, Catholic Online (NEWS CONSORTIUM)

An article published in 2011 in Forbes is making the rounds again and people are talking, but despite the dust on the copy, it's a timely conversation. The article by Brendan Coffey reveals that there are four companies that control 147 other companies and those 147 ... continue reading


U.S. to shortly overtake Saudi Arabia, Russia in production of natural oil Watch

Image of In Texas and North Dakota, oil extraction is soaring at shale formations as companies split rocks using high-pressure liquid in a process known as fracking.

By Catholic Online (NEWS CONSORTIUM)

The United States has often found itself at the mercy of unstable nations for the majority of its oil imports. That day may soon be past after American begins the extraction of energy from shale rock, eventually overtaking both Saudi Arabia and Russia in oil ... continue reading


Unemployment among black Americans twice that among whites Watch

Image of The jobless rate among whites last month was 6.6 percent; among blacks, 12.6 percent. The unemployment rate for blacks has averaged about 2.2 times that for whites.

By Catholic Online (NEWS CONSORTIUM)

When African-Americans marched on Washington in 1963, it was under the banner of "Jobs and Freedom." There remains a great inequity with the former; the number of unemployed blacks in America remains twice as much as whites, and has remained that way for ... continue reading


Don't read this if you enjoy shrimp -- and hate slavery Watch

Image of Forced to work on old fishing boats, slaves work 20-hour days, often with drugs to keep them going. They are not paid, having been bought and sold into the industry.

By Catholic Online (NEWS CONSORTIUM)

A shocking investigative report from The Guardian reveal that virtually all shrimp harvested in Thailand is in some way a product of slave labor, and that much of this shrimp ends up in the mainstream food supply chain. If you eat shrimp, it is likely you are consuming ... continue reading


How bad is it? So bad even the capitalists are quoting Marx Watch

Image of IMF managing director Christine Lagarde gave a keynote address where she quoted Karl Marx.

By Catholic Online (NEWS CONSORTIUM)

The elites of the free world may be awakening to the fact that their unfettered pursuit of more is perhaps the single greatest existential threat to their existence. At a recent invitation-only conference in London, several billionaires as well as the head of the IMF ... continue reading


Yes, corporate tax havens cost you too! Watch

Image of It's common and it cheats millions of their due.

By Catholic Online (NEWS CONSORTIUM)

Surprise, surprise, surprise!  The same day Cardinal Maradiaga condemned unethical business practices that do nothing to help those at the bottom of society, a report was released that shows a majority of Fortune 500 companies stash their money offshore to avoid ... continue reading


America is now more appealing to manufacturers than Germany Watch

Image of German manufacturing firms are finding America an increasingly appealing place to open factories, because of the low price of business.

By Catholic Online (NEWS CONSORTIUM)

Many workers in the United States may agonize over growing job losses thanks to low-cost workers in India or China. For many in Germany, the U.S. may take that role thanks to the low cost of energy. LOS ANGELES, CA (Catholic Online) - The U.S. is the new global ... continue reading


Seattle approves $15 minimum wage Watch

Image of Seattle residents gathered to support the measure to increase the city's minimum wage to $15 an hour.

By Catholic Online (NEWS CONSORTIUM)

In a historic move, they city council of Seattle voted unanimously to raise the minimum wage to $15 per hour, which is twice the U.S. required minimum wage. LOS ANGELES, CA (Catholic Online) - The decision will go into effect next year, and through the next three ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Song of Songs 3:1-4
1 On my bed at night I sought the man who is my ... Read More

Psalm, Psalms 63:2, 3-4, 5-6, 8-9
2 Thus I have gazed on you in the sanctuary, seeing ... Read More

Gospel, John 20:1-2, 11-18
1 It was very early on the first day of the week and ... Read More

Saint of the Day

Saint of the Day for July 22nd, 2014 Image

St. Mary Magdelene
July 22: She is called "the Penitent". St. Mary was given the ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter