Word: newsdays
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...ordered less food. It was therefore entirely in character when the relentlessly bottom line-oriented Willes, six weeks into his new job as CEO of Times Mirror, announced massive layoffs at the media giant's newspapers. In less than a week, Willes closed down New York Newsday, cutting about 750 jobs, and then announced an additional 1,000 job reductions company-wide, primarily at the flagship Los Angeles Times...
...Times Mirror Co. is having it particularly rough. Its largest paper, the Los Angeles Times, has suffered through the hard economic times and weak advertising climate that have gripped Southern California since the early 1990s. And New York Newsday, one of four major papers in a city that many say can profitably support only two, had been gushing red ink -- as much as $100 million since its founding a decade ago. Times Mirror's profit margin has been 9% to 10%, well below the industry average. And Times Mirror stock has floundered, falling from $53 a share...
McCarthy has been in the journalism businessfor 20 years, eight of which have been with NewYork Newsday. She said that Newsday gave her "awhole new lease on the business...
...That point, Newsday offered her theopportunity to write her own column, whichMcCarthy felt was a unique opportunity...
...will be an opportunity for her, if shereturns to [the ] Newsday [parent operation] tothink more closely about the business, and if shedoes not return, to expand elsewhere...