Shutdown Bonuses

Killing journalism: It pays, apparently!

In issuing his ruling Tuesday afternoon, Judge Allan
L. Gropper (pictured coming out of the courthouse late last month)
overruled objections to a plan to pay about $1.3 million to managers in
exchange for duties including firing scores of employees, closing
newspapers (referred to as “shutdown bonuses”) and remaining with the
company.

Anybody want to give me a million-dollar bonus for closing the blog down?

Via Romenesko.

A.

3 thoughts on “Shutdown Bonuses

  1. RAM says:

    But they’ve got to have well-paid hatchet people to fire the reporters. If they put out a better newspaper, they’d increase circulation and they would be able to sell more ads and then they could charge a little more for those ads and they could be more profitable. But that would mean spending more on actual news coverage, and that, of course, is expensive, especially when they’re already making millions putting out an increasingly crappy product. So why risk it? Continue being crappy, continue cutting news content, continue paying executives obscene amounts of compensation, until the paper’s dead. Sounds like a plan!

  2. evil is evil says:

    Kill all of the newspapers, they are a waste of perfectly good trees. Haven’t read more than the want ads in 30 years.

  3. k says:

    I think you have to go somewhere else and shut down their blog, to “earn” the million. Should we take votes?

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