September 11, 2007
That Familiar Thud
In a letter to employees of Dow Jones, publisher of the Wall Street Journal, Mr Zannino said the main goal of News Corp’s $5bn acquisition was to “increase profits by strengthening and growing our products and brands, not by slashing costs”.
Mr Zannino added that “there will be some changes”, and “where job cuts are unavoidable, we will communicate that as soon as practical”.
Perhaps Murdoch is a true innovator. Perhaps he’ll cut advertising and business staff instead of editorial staff (i.e. the very staff that makes the Wall Street Journal–perhaps the best newspaper in the world–worth buying in the first place).
Naaaaaaaaaaa!
Posted by acline | September 11, 2007 | Posted in: Journalism | Comments Off
