It’s not clear how they’re supposed to do it, but Tribune Co. executives have been ordered to come up with $100 million in budget cuts, sources said, as the company prepares to spin off the publishing side of the business.
In a meeting with vice presidents of publishing units at Tribune Tower Wednesday, Tribune Co. CEO Peter Liguori directed them to begin drawing up plans immediately to hit the $100 million mark in savings. The cuts will start to be put into effect Dec. 1, sources said, and are expected to affect all areas of operation, including the newsrooms.
Wow, things must be really dire if they need to cut that much:
The publishing side of Tribune had revenue of $2 billion in 2012, exceeding that of the broadcasting side, which reported $1.14 billion.
Exactly what can you not do with that kind of money? I would personally buy Barbados and invite you all down to my new place to drink, but are you seriously telling me OH WAIT:
Tribune Co.‘s $2.73-billion purchase of 19 television stations Monday will have no impact on whether the company sells its newspapers including the Los Angeles Times, Chief Executive Peter Liguori said.
“We’re not going to look at the newspapers today any differently than we did yesterday,” Liguori told Tribune employees around the country during a town hall meeting to discuss the company’s deal to acquire Local TV Holdings.
We’re gonna blow a shitload of money on acquisitions we do not specifically have to make, and then tell you there’s no money for YOU, because most people are too stupid to figure out that “not as much money as we used to have ” does not equal “not enough money to pay the bills,” it equals “plenty of cash if only we’d spend it on what we actually need rather than random bullshit.”
I do not GET how we keep having this idiot conversation. I do not get how we keep blaming the Internet. I do not get how we keep fucking this up.