AJC ending weekday print editions

[rtse11]

Gannett has a chart of the circulation of their 15 or so largest papers in the 2021 annual report on page 19. I would not be surprised if Lee had something similar in their annual report but I have not checked.

FWIW, Lee is no where near the basket case that Gannett is financially and operationally. Which is not to say that all is well at Lee. It is that bad at Gannett.

If Gannett does not stabilize their circulation revenue immediately they will stop generating enough they will stop generating enough cash to pay the interest on their debt. If revenue continues to decline six percent a year or so the company will be unable to fill that hole through cost costs.

Hearing that Gannett is ramping up the targeting of smaller, underperforming properties for closure.
Of course, the fact they are underperforming is in large part to Gannett gutting those staffs to 2 or fewer people.

 

[LanceyHoward]

Hearing that Gannett is ramping up the targeting of smaller, underperforming properties for closure.
Of course, the fact they are underperforming is in large part to Gannett gutting those staffs to 2 or fewer people.

I forgot I was posting on the AJC thread and not the Gannett thread which is why I digressed into a comment on Gannett's viability. So I apologize for threadjacking.

But in response to your observation Gannett appears to have eliminated 800 positions. ashuming the loaded salary cost of the positions was 65K that saves about 52 million dollars annually. Gannett lost over 50 million in the second quarter alone.

So the company needs to come up with three times the cuts already made to move to cover that hole. If revenues continue to drop at the rate of about 50 million dollars a quarter the hole gets bigger. So unless the revenue stabilizes Gannett is going to have to do something far more dramatic than they already have or declare Chapter 11.

 

[studthug12]

What is the 'coach' to writer ratio?

 

[wicked]

Is Little Rock still doing the subscribe-and-you-get-a-tablet-to-read-the-virtual-edition thing? How many readers stuck around? They were investing a lot of time and cash in it.

 

[matt_garth]