And there goes the Star-Ledger (and another $10 million)

Posted on September 8, 2010 by pat

Two years after offering a buyout that decimated its newsroom by cutting about one-third of its staff, The Star-Ledger of Newark, N.J., the state’s largest daily paper, is offering another such buyout.

In a memo to staff today, Publisher Richard Vezza stated that the paper had lost $9 million in 2009 and was on pace to lose another $10 million this year.

Sounds like a fun place to work. I’d feel worse for the paper, if they weren’t owned by Advance Publications (parent company of Advance Internet), which has the worst newspaper websites around.

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  • http://twitter.com/mfriesen Mark Friesen

    The Star-Ledger is not owned by Advance Internet. It is owned by Advance Publications. Advance Internet is a separate subsidiary which runs the web operations. But don't let that get in the way of your schadenfreude.

  • http://twitter.com/pwthornton Patrick Thornton

    Oh Thank God, I thought the Star-Ledger was actually in trouble. It's good to hear that it is now doing well.

  • http://twitter.com/pwthornton Patrick Thornton

    I take no pleasure in the Star-Ledger and its editorial operations doing poorly, but Advance Internet and that whole setup with the Newhouse papers has been an absolute disaster.

  • http://twitter.com/mfriesen Mark Friesen

    Didn't say it was doing well. But the fact that it's not likely has little to do with the corporate structure of Advance and much to do with a bad local economy. Unless you have some knowledge about a privately held company that no one else has…

  • http://twitter.com/mfriesen Mark Friesen

    Didn't say it was doing well. But the fact that it's not likely has little to do with the corporate structure of Advance and much to do with a bad local economy. Unless you have some knowledge about a privately held company that no one else has…

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