Thursday, January 29, 2009
© Copyright 2014
Gwinnett Daily Post
In a move to counter the worsening economy and skyrocketing paper costs, Triple Crown Media Inc. announced Wednesday a companywide work force reduction of 5 percent. TCM operates seven Georgia newspapers - six daily newspapers, including the Gwinnett Daily Post, and one weekly newspaper.
"The continued deterioration of the economy has taken a toll on everyone. Unfortunately the automotive and real estate markets along with general retail merchandisers are underperforming which has resulted in significant ad spending cuts," TCM Executive Vice President Michael J. Gebhart said. "In this extraordinarily difficult economic environment, we have to make very complex decisions that are not easy for anyone."
At the same time revenues from advertising have declined, newsprint costs have skyrocketed nearly 40 percent in the last year. That combination led to the work force reduction and other proactive steps designed to conserve newsprint and streamline operations.
"We believe our organization will be properly sized to meet the difficult challenges confronting us," Gebhart said.
The six daily newspapers operated by Triple Crown Media are The Albany Herald, the Gwinnett Daily Post, the Rockdale Citizen, the Newton Citizen, the Clayton News Daily and the Henry Daily Herald. The company's weekly paper is the Jackson Progress Argus.