"I mean, we are a profit-driven industry. And if you want the most eyeballs, you have to go with the thing that people are most talking about. But if you're trying to do a quality program, then maybe you have got to go with Iraq and Iran."
–Politico's Julie Mason, explaining the amount of coverage of Anthony Weiner (CNN, 6/19/11)
Jim Romenesko reports that Gannett will be laying off 700 employees:
That's about 2 percent of the workforce, according to Gannett US Community Publishing division president Bob Dickey. 'The economic recovery is not happening as quickly or favorably as we had hoped and continues to impact our U.S. community media organizations,' he says in a memo that's posted below. 'Publishers will notify people today and we will make every effort to reach everyone by end of day.' In March it was disclosed that Gannett CEO Craig Dubow received a $1.25 million cash bonus and had his salary doubled.
The item about those executive salaries is headlined:
Gannett paid CEO Dubow $9.4 million in 2010– double his 2009 pay
And the others aren't doing too bad either:
* Chief Financial Officer Paul Saleh: $2.9 million; includes a $225,000 bonus, after joining GCI last November.
* U.S. newspapers president Bob Dickey: $3.4 million, including $600,000 bonus. (His total 2009 pay: $1.9 million.)
* USA Today Publisher Dave Hunke: $2.5 million, including $375,000 bonus. (Total 2009: $1.9 million.)
* Broadcasting President Dave Lougee: $2.2 million, including $450,000 bonus. (Total 2009: $1.3 million.)