Buyouts offered to Free Press employees-memo – Reuters.com

“The Detroit Media Partnership, a joint operating agreement between Free Press owner Gannett Co Inc. and MediaNews Group, which owns The Detroit News, aims to cut 110 positions, it said in a memo to employees on Friday. ‘If the voluntary offer doesn’t result in a sufficient number of volunteers, or if in the future, economic conditions worsen, it may be necessary to consider layoffs,’ the memo said.”

Saving investigative journalism – Steve Outing

“A new non-profit group called Pro Publica is being formed to fund and produce investigative journalism projects, which it will pitch to newspapers and magazines. One of the founders is Paul Steiger, who was top editor of the Wall Street Journal for 16 years.”

Black day for hockey coverage in the Bay Area, SF Chronicle and SJ Mercury News buy out and lay off Sharks beat reporters – Julia Dominic

“The San Francisco Chronicle bought out the contract of Sharks beat writer Ross McKeon, who has been covering the team since 1991. Also, Sharks beat writer Victor Chi is on the list of 31 San Jose Mercury News employees who were laid off on Monday. Fifteen others, including soccer and boxing reporter Dylan Hernandez and photographer Meri Simon, voluntarily resigned.”

[Maybe it’s a good thing that Bay Area sports fans don’t have much to cheer about these days – Ed.]

Bear Stearns Predicts Ripple Effect of Real Estate Decline – Editor & Publisher

”Retail is going to be the most vulnerable category, since consumers will probably spend less. Florida, predicts Bear Stearns, will feel these affects more acutely. It’s expected that retail sales will drop in Q3 and as a result retailers will cut back dramatically on advertising. In Bear Stearns coverage universe, Tribune and E.W. Scripps have the most exposure to Florida and California in terms of revenue at 37% and 14%, respectively.”

[It’s beginning to look like a perfect storm for newspapers, at least in some areas of the country. Demographic shifts and online competition are combining with a softening economy to accelerate declines in advertising. This leads to layoffs, a weaker product and more reader flight. – Ed.]

Chronicle colleagues who care

[Former San Jose Mercury News staffers have set up a blog to commiserate, keep in touch and share job leads. The paper has reportedly cut its reporting staff by half from its peak. – Ed.]

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This entry was posted on Tuesday, October 16th, 2007 at 9:06 am and is filed under Advertising, blogging, Circulation, Classifieds, Journalism, Layoffs, NewMedia, Newspapers, OnlineMedia. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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