Friday, September 7, 2012

Journal Register bankruptcy gets second-day analysis

The Journal Register Company announced it was declaring bankruptcy Wednesday. Digital First Media operates JRC; its CEO, John Paton, said in the announcement that a subsidiary of JRC’s current owners has made a bid for the company, so possibly when the company emerges from bankruptcy it will enjoy the same management, just with less debt. It’s not an easy business move to get one’s arms around. Here are a couple of explainers:

Union: Providence Journal plans more staff cuts this month

PROVIDENCE, R.I. (WPRI) – The Providence Journal will cut an undetermined number of employees this month through buyouts or layoffs, according to the largest union at Rhode Island’s statewide daily.

The Providence Newspaper Guild said Friday management has told union officials the paper will offer “a new round of buyouts, and warned layoffs are possible if enough employees don’t accept them.”