Gannett's Honolulu paper laying off 600

Dateline: Thu 11 Mar 2010

This is from Yahoo news:

"HONOLULU – Layoff notices have gone out to 600 employees of The Honolulu Advertiser.

The notices say the workers will lose their jobs when owner Gannett Co. sells the newspaper and related assets to Oahu Publications Inc., owner of the Honolulu Star-Bulletin.

The sale is expected to be completed between April 12 and April 30.

The majority owner of the Star-Bulletin, David Black, has put his newspaper up for sale. However, he has said if a buyer isn't found, the two newspapers will merge and layoffs will occur.

It isn't known how many Advertiser employees would be rehired under a merged operation.

The Advertiser reported last week that Gannett is providing more than $40 million to help finance the purchase. The purchase price hasn't been disclosed."

Thanks to the reader who sent it this way.

Comments

Marycatherine Barton [unverified] said:

Next, will Gannett be selling the Indianapolis Star. Haa!

2010-03-12 00:23:21

hendy [Member] said:

Monopolies last a long time. That's not to speak of their quality, which is usually poor-- only their longevity.

2010-03-12 10:42:19

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