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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Another US daily cuts costs as profits plunge

One of California's leading newspapers, the Orange County Register, is laying off staff, reducing the amount of news in the paper and cutting other costs due to a steep decline in profits. In a memo to the staff last week, editor Ken Brusic told of a 14% drop in revenue and a 38% drop in profit from the year before. The paper, owned partly by a privately-held company, Freedom Communications, and partly by private equity firms Blackstone Group and Providence Equity Partners, has a daily circulation of just over 300,000. (Via Los Angeles Times)

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