Monday, March 9, 2009
Gannett stock falls belows $2 per share; McClatchy announces big layoffs, cuts; good change coming
The nation's big newspaper industry took another Rocky-like body blow today with Gannett Inc., Co. stock falling below $2 per share as the value of its chain newspapers continued to plummet.
Meanwhile, the McClatchy newspaper chain announced today that it was cutting 15 percent of its workforce.
The nation's big newspapers and their chains rightly suffer for their arrogance and ignoring balance and fairness for their own political agenda on the news pages.
Like GM, many deserve to close in favor of a new, community-based and owned journalism on the Internet and in smaller independent publications that publicly state their political inclinations such as The Nashville Free Press, a progressive publication.
Readers are not fooled anymore. Be upfront and truthful, and the profits and support will come.