CNN/Business has a depressing report:
Wednesday served as a harbinger of what’s in store for the industry, with HuffPost’s parent company Verizon announcing a 7% cut to staff in its media division, a portfolio that also includes Yahoo and AOL. Within hours of that news breaking, BuzzFeed confirmed that it will lay off 15% of its staff. And journalists at Gannett, the nation’s largest newspaper chain, shared grim stories throughout the day on Wednesday as the company shed dozens of staffers throughout the country.
In all, the media industry lost about 1,000 jobs nationwide this week.
Amidst the wailing of other members of the free press and the sadness for those affected, it occurs to me:
If there’s some billionaire who wants to run a media company, this might be an opportunity. Experienced personnel who want to succeed, geographically distributed, and a chance to start from the ground up. It sounds like a step on the ladder to me.
I just don’t happen to have the sort of cash sitting around. But if I did?
My thanks to my Arts Editor who whipped this right up. She’s also volunteered to revive the position of copy-editor.
