Mini-round of layoffs at The Dallas Morning News

Fredrick apologizes in advance for being so negative and sometimes repetitive, but folks it has to be pointed out what pawns we are (including midlevel suits). We are the ones who pick up the pieces when our friends are laid off. We are the ones trying to do solid Journalism. For what? Well, to satisfy youself, for one. Journalism is in your blood and you are basically feeding your own lifeline (until you get laid off). But your big role? To keep the newspaper alive by working 60 and getting paid for 40 and doing the work of 3 people, all to the delight of the CEOs who get the huge bonuses and the stockholders who thanks to all the bleeding make mega $$s. You are being used, folks. Again my apologies for the negativity. I'd love to be positive on here, but can't in this environment. It's just me telling it like it is ... unfortunately.

 

Didn't say it was completely right. Just said there's a bigger picture than you're willing to see. Times change. Newspapers are dead.

 

You are right. And he did a lot of high-impact, much-talked-about takeouts.

 

In a conversation with a former co-worker the other day, I was reminded that when we were on the losing side of the Dallas newspaper war in the late '80s, Barry Horn was regarded by our sports staff as not only a fine writer but "one of the good guys." We were surprised anyone with a high degree of decency could survive working for a legendary hard-ass such as Dave Smith.

 

Frederick says you are being used folks, working 60 and only getting paid 40. Not him, though. Frederick isn't being used. In fact, working 23 hours straight at times, no lunch breaks, he works 80! Damn suits!

 

q2`

Tom Hoffarth is the only one left in the LA market and he writes about media part-time and no longer blogs.

I think it would be long term profitable to start a local sports media blog in a major market city. You would have to be relevant, have good contacts, be accurate, honest and post daily at least. That's a lot of work.

 

This is interesting: The Stars announced today that the DMN's longtime beat writer Mike Heika is joining the team's official website.

 

Congrats to Heika. It's a good landing spot. Newspapers are done (duh). Newspapers are dead and gone for many many reasons.

 

Here we go again ....

 

We're in a time with record employment levels and only the newspaper industry acts like it's the middle of a deep, dark depths of a recession. Hooray for the corporate suits for being mavericks!

 

Because the publishing industry is in a recession. Revenues at the Belo have been declining about four percent a year. The Dallas Morning News had negative operating income the first three quarters of 2018. The paper barely has positive EBITDA.

Belo has 57 million in cash as of the end of the third quarter. I think the owners are not trying to make money in today's environment but do not want a negative cash burn.

How bad is it? Belo owned the paper in Denton, Texas. I don't know the reach of the Denton paper but Denton County, Texas had a population of 666,000 in 2010 and 836,000 in 2017, which means the number of houses being built must be insane. 20 years ago a paper in a town like Denton would be a gold mine, just from the reals estate ads. I read a Belo SEC filing and they prepare to have basically given the Denton paper away. I have never seen a sales price reported which means the company believes the proceeds from the sale were immaterial.

 

There's no way it should be like this. I don't think the economy is doing as well as the official stats say it is but it's still doing well. People should have money to spend on what you may or may not consider - depending on the state of your local paper - a luxury.

Heck, even book sales and the sales of actual physical books are up. Has the product been so gutted that having a monopoly means nothing?