The Cuts Will Continue Until the Profit Improves

What the fucking hell:

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.


4 thoughts on “The Cuts Will Continue Until the Profit Improves

  1. The Oregonian–which used to have the largest circulation of a US paper west of the Mississippi and north of the Bay Area–goes to 4-day delivery next week. They’ll sell copies on the other days, but if you’re a subscriber you have to go online for your paper those days. I can’t imagine how many other daily subscribers they’re about to lose.

  2. OhhhKaaayyyy?! Once again, all these forward looking business psychics are throwing away their creed from last year in order to take on the new and improved wisdom. (And here I thought that wisdom implied some sort of stability).
    They currently have a combined print news and a TV Broadcast section. To use the former buzzword in business, that would include some synergy as both the newspapers and TV needed someone to go out, research, and report news.
    But, of course, so many news outlets have given up researching what they report – like Colbert said to a famous banquet – don’t read it, don’t verify it, just read what we give you on the press release. That way you can go home early.
    By simultaneously breaking apart the two divisions and having a large layoff, they seem to be admitting that the height of their news in the future is going to be serial videos of animals wearing caps on wide angle lenses.

  3. They’re psychotic. Pure and simple. Yesterday big internet article seemed to be Matt Taibbi’s takedown of municipal and state pension fund looters-disguised-as-financial-experts…and the Trib Masters of the Universe don’t seem any different. Their big deals are little more than expressions of their inflated egos…and if things turn to shit (or even just don’t shower them with cash), well, I guess that’s what we’re here for: to absorb the loss and take the beating until morale improves.

  4. The idiot conversation keeps happening because we are the only participants. The idiots are not in the conversation at all. It’s just us – face palming, CAPITALIZING, hurling snark – and them, whistling, doodling, gazing into space and humming ‘We don’t hear you. We don’t hear you. la de da la de da neener neener’

Comments are closed.