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New York Daily News

Discussion in 'Journalism topics only' started by silvercharm, Jul 20, 2018.

Page 6 of 14
  1. Slacker

    Slacker Well-Known Member

    It was just always someone on the desk that had to go, so it finally was my turn.

    After that, a desk that formerly had 10 rimmers and four designers was down to one designer who also had to do the Metro section, and the sports rim was one slot and two rimmers, and both rimmers were freelance hires with no benefits.
     
    Slacker, Jul 23, 2018
    #61
  2. Alma

    Alma Well-Known Member

    Deeply sad.

    Yeah, this is a murder. Truly awful. I guess Tronc is going the shitty huffpo route.
     
    Alma, Jul 24, 2018
    #62
  3. tapintoamerica

    tapintoamerica Well-Known Member

    Another paper in that group : the Capital Gazette in Annapolis.
     
    tapintoamerica, Jul 24, 2018
    #63
  4. Deskgrunt50

    Deskgrunt50 Well-Known Member

    I figured. Please, my apology.
     
    Deskgrunt50, Jul 24, 2018
    #64
  5. Tarheel316

    Tarheel316 Well-Known Member

    None necessary. I just feel terrible for all those people who lost jobs.
     
    Tarheel316, Jul 24, 2018
    #65
  6. Della9250

    Della9250 Well-Known Member

    Confused....Why keep the Mets beat writer but not the Yankees one? Unless they shuffled people around in the aftermath?
     
    Della9250, Jul 24, 2018
    #66
  7. gingerbread

    gingerbread Well-Known Member

    I trust you were paying tribute to their balls, rather than mocking them. Because while the entire social media department of the NYDN was canned, some brilliant Tronc exec forgot to change their passwords and for a few hours they went on quite a tear.
    But yeah, it's important to remember the great, important work that once came from the NYDN.
     
    gingerbread, Jul 24, 2018
    #67
    Deskgrunt50, wicked, HanSenSE and 1 other person like this.
  8. LanceyHoward

    LanceyHoward Well-Known Member

    I don't understand what Tronc is trying to accomplish by these cuts instead of just closing the paper. The Daily News is burning through cash. Firing half the staff will certainly not sell more papers or ads. Revenues will continue to decline. I think the Daily News is in a death spiral. Cut staff then watch revenue drop some more. Cut more staff and watch revenue drop some more. Especially in a market where the Post is offering a similar product and evidently not cutting staff as rapidly.
     
    LanceyHoward, Jul 24, 2018
    #68
    Fredrick likes this.
  9. The Big Ragu

    The Big Ragu Moderator Staff Member

    Do you know that the Daily News was burning through cash or are you guessing? It was losing money still almost certainly, but even there it's hard to know just how much because the last inkling anyone has was as of 2016, from a regulatory filing when Tronc took it on. Tronc is very likely looking at deals right now. Supposedly there have been a few buyers circling Tronc. If not the whole company, then pieces of it, and there could be someone interested in The Daily News. It's really difficult to know what is realistic with it. You'd think a 99-year-old brand with a storied history is worth something, but Tronc got it for only $1. Which means the debt and liabilities must have been greater than the value as people were seeing it when they got into the books. The one thing the Daily News has, though, that another newspaper that is losing money and is loaded with debt doesn't have is that it is in New York City. It just takes one eccentric billionaire who thinks he can have an outsized effect on the world with the right megaphone, and who knows? A John Catsimatidis type, is what I am thinking. ... he wanted to buy the Daily News just a few years ago. I don't know who else is out there with the right kind of vanity. The question is whether the debt that will likely come with it as part of any deal that Tronc is willing to make, is a non starter.
     
    The Big Ragu, Jul 24, 2018
    #69
  10. Azrael

    Azrael Well-Known Member

     
    Azrael, Jul 24, 2018
    #70
    Deskgrunt50 likes this.
  11. LanceyHoward

    LanceyHoward Well-Known Member

    The first quarter 2017 2018 Tronc earnings press release provided at least an inkling:

    "Adjusted EBITDA for first quarter 2018 was $24.4 million, versus $33.7 million in the first quarter 2017, due primarily to an anticipated negative first quarter 2018 adjusted EBITDA at the NYDN and digital investments."

    As for a potential buyer Tronc needs to find some rich person. Perhaps they will.
     
    Last edited: Jul 24, 2018
    LanceyHoward, Jul 24, 2018
    #71
  12. HanSenSE

    HanSenSE Well-Known Member

    [​IMG]
     
    HanSenSE, Jul 24, 2018
    #72
    Slacker likes this.
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