Strong Progress: Daily's parent back in black
The parent company of the Daily Progress, which struggled with red ink in the year-ago fourth quarter, is reporting a profit of $27.4 million, or $1.18 per diluted share. This compares well with a net loss of $85.5 million, or $3.86 per diluted share, for this Richmond-based company that owns a slew of television stations and papers including the Tampa Tribune and the Richmond Times-Dispatch. In a release, the company cites cost-cutting and stronger ad sales for the quarter's profit.
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3 comments
Cost cutting in the news department is sadly evident. This is becoming a coupon clipping paper that plays follow the leader when it comes to local stories.
If what you say is true maybe this should be a new entitlement program.
With the gluttony of online news,local, national and worldwide, there's no point in even reading this paper anymore. It seems to me that it's only old people who still read it, resistent to technology and the idea of having a computer and getting internet. I used to work at the Daily Progress, and let me tell you when the printing press would break down there'd be hundreds of calls from people getting all crazy because their 50 cent newspaper wasn't in the box that morning. And I do mean crazy. Some would call repeatedly, every half hour, "Where's my paper?! Where's my paper?!?!?" Others would yell, even cuss. For a little newspaper. It's like, go online and get your news if it's that important to you! But it seemed to me it was mostly elderly shut ins who don't have a "fandangled computer" or internet, and who don't get out much and so that's all they had in life. They NEED their newspaper. It's like this daily ritual that makes them feel secure. Because of that I've since concluded that newspapers are just security blankets for the elderly and shut ins and all those resistent to technology. That's about it. For the rest of us it's antiquated and pointless and a waste of trees.