
Richmond-based Media General, the parent company of the Richmond Times-Dispatch, said Wednesday that it is considering selling some of its newspapers.
Richmond-based Media General, the parent company of the Richmond Times-Dispatch, said Wednesday that it is considering selling some of its newspapers.
More hotel purchases from an Apple REIT this week. Plus, more detail on the departure of a local bank’s CFO.
Media General told its employees Thursday that they must take 15 unpaid days between now and the end of the year.
Altria has to fork over almost $1 billion to the tax man, while directors and officers at several big companies are exercising their stock options.
Earlier this week, Media General elected Dennis FitzSimons, former CEO of the Tribune Company, as a new member of its board.
Another Media General affiliate cut jobs.
The Times-Dispatch laid off four more reporters and one researcher. Click to see the memo from the publisher to employees.
The Associated Press reported today that Media General shareholders have reelected the board members and added one: Scott Anthony, an industry consultant.
The Times-Dispatch told 28 editorial staffers and31 non-newsroom employees Thursday that they were no longer needed and could leave immediately. Several of the laid-off workers had decades of experience, which likely means their salaries were higher than the younger reporters and might be one reason they were cut.
Despite losing $632 million in 2008 and asking salaried employees to take two weeks off, it still pays to be a head honcho at Richmond-based Media General. Chief executive Marshall Morton received $2.76 million in total compensation in 2008, according to an SEC filing. That’s about the same as 2007 and about 15 percent less… Read more »
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