Newspaper Roundup: Boston Globe; Star Trib; C-S Monitor
This story was written by David Kaplan.
Boston Globe cutting 12 percent of the newsroom: The NYTCo-owned paper is offering buyouts to all of its newsroom staff as it seeks to cut at least 50 full-time jobs. Speculation has been growing the NYTCo (NYSE: NYT), which has been going through its own financial struggles, might try to sell the Globewhich is bought for $1.1 billion in 1993.
Star-Tribune bankruptcy threat grows: McClatchy's Minneapolis paper could be headed for bankruptcy as a key agreement on cost-cutting with the one of the unions appears out of reach. The Newspaper Guild has walked away from talks with the publisher, saying that it has been unable to strike an accord on how the $4 million in budget cuts would be dispersed. The guild will meet with its members to discuss next steps on Friday afternoon.
C-S Monitor reduces edit staff by 7 percent: As it prepares to go from a daily to a weekly print publishing schedule this spring, The Christian Science Monitor will cut its 90-person edit staff by 7 percent. About 16 posts will be eliminated' so far, half of those jobs are already gone trhough atttrition. The remainder will be cut through buyouts. If number of buyouts accepted fails to meet the Monitor's expectations by Feb. 16, layoffs will be handed down.
Canada's Globe & Mail: http://www.reuters.com/article/marketsNews/idCAN0930899920090109?rpc=44
By David Kaplan