Two interesting bits of GateHouse Media economic news from the Turner Report.
First, the bad news:
The quarterly report filed today with the Securities and Exchange Commission, showed a sizable decrease in revenue from the same quarter the previous year, with losses in advertising, circulation, and printing, and a $526.1 million loss for the first six months of the year.
And the good news:
Buried close to the end of the report is the news that [regional manager and former GateHouse Media executive Scott] Champion was awarded a $135,000 bonus today.
And I’ve received more than one private email from former Journal Star editorial staffers who say they’re hearing that inadequate staffing due to unfilled vacancies has reporters doubling and tripling up on beats. That’s to blame for the recent spate of missed stories.
Tags: GateHouse Media, Scott Champion
Billy Dennis is a former reporter and editor at small daily and weekly newspapers in Illinois and Missouri. He comments on media, news and politics. He also owns and operates 
Hell yes, that’s why stories get missed!
And, it’s not just in Peoria. It’s everywhere. In my experience, reporters continue to work hard, often for free because there is no OT money, and remain dedicated. There are only so many directions one reporter can stretch themselves.
I totally don’t understand this business model from Gatehouse, and other like-minded companies:
“Cut employees, cut news coverage, ignore the big stories, focus on the inane ones.”
Somehow that’s supposed to help you keep readers? It makes no sense. Without satisfied readers, you can’t sell advertising. Without advertising, you make no money. Seems the concentration is in the wrong spot.
On the upside, at least Scott Champion is getting rich.
25 cents a share! It’s going up?
I won’t lower myself to defend GateHouse, but this bonus is pretty tiny compared to the bonuses bailout-out Wall Street banks with big losses have given employees recently. And GateHouse bonuses don’t cost taxpayers a thing.
Nobody should receive bonuses while others are losing their jobs. It is wrong. Period.
As one of the ones laid off, I have to say that hearing about the bonus is disheartening. It would have been enough to keep me on for another three or four years. But in the grand scheme of things, AnotherExJSer is right. It definitely could have been a lot worse, and the party of those feeling wronged could be a lot larger.
Agreed Michael..and to add to it…no one should get a bonuse when no one else is getting a raise either. Talked to several at pjs who haven’t received raises in 2 yrs…which is only a measley 3% but still..come on.