MediaNews Group, the company that ultimate month purchased The Reading Eagle Co., plans to cut higher than a third of the newspaper author’s workers when the sale is complete.
When the $5 million buys are official June 30, MediaNews Group is anticipated to cut 81 of the Eagle’s virtually 240 jobs, in accordance to WFMZ. Pennsylvania’s Department of Labor & Industry up to date a WARN uncover on its web page confirming the official amount of layoffs.
According to Lancaster Online, MediaNews Group talked about staff who get laid off is not going to acquire severance pay.
The family-owned Reading Eagle Co., which moreover owns WEEU 830 AM, weekly newspaper South Schuylkill News, and the events-based multimedia company Pretzel City Productions, filed for Chapter 11 chapter security once more in late March, higher than 150 years after it was based mostly.
Reading Eagle editor Garry Lenton wrote a goodbye column on Monday, throughout which he talked about his impending departure and the long term of the newspaper:
“I will be leaving the Eagle on the end of the month to pursue totally different pursuits. A model new company will be taking over rapidly, one that may make certain that this data company continues to serve this county.
“Things will change as a result of they’ve to, however the dedication to journalism by this employees will stay. You, our readers, have saved all of us going for greater than 150 years, and I do know many of you’ll proceed to accomplish that.”
MediaNews Group has obtained criticism prior to now for gutting native newspapers and slashing jobs in cost-cutting measures. Denver Post editor Greg Moore as quickly as referred to as Alden Global Capital – the hedge fund which owns Digital First Media, the determine beneath which MediaNews Group operates its new firms regionally in Delaware, Chester and Montgomery counties – “one of probably the most ruthless of the company strip-miners seemingly intent on destroying native journalism.”
MediaNews Group is based totally in Colorado and owns newspapers throughout the United States. Among these, it publishes inside the Philadelphia area is the Delaware County Times, Lansdale Reporter, Pottstown Mercury, West Chester Daily Local News, Norristown Times Herald, and Main Line Times.
The Reading Eagle’s huge modifications are half of a busy 12 months for Philly-area small media. Local data web site Billy Penn was bought by WHYY, Metro Philly gutted its editorial workers, and sustainability journal Grid launched it might not keep itself on selling funds.