How’s the T&G doing?
Last year, tycoon John Henry bought the Worcester Telegram & Gazette from the New York Times in a package deal. This year, Florida-based Halifax Media bought the T&G from him.
Documents leaked during the first sale showed T&G daily circulation at 57,000 and annual revenue at $49M, down 20% over 5 years. As a business, the T&G was fading fast.
Henry bought $70M of properties from the NYT. The T&G’s value was estimated at $7M. Surprisingly, Halifax possibly paid $19M for it. With Halifax in charge, there was a massive round of layoffs. 29 of 80 newsroom staffers left the paper, mostly layoffs with a few resignations.
It’s hard for an outsider to understand the real effect of these layoffs, and the other newsroom layoffs they’ve had in recent years. So let’s see if there’s been a change in the crudest journalistic metric, the number of Worcester stories printed each day.
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