Good news for New Jersey’s largest paper: the paper will not be sold or closed. Brian Donohue with the Ledger Live podcast today has an interview with the paper’s editor.
We’re grateful to see the Ledger will continue to provide news and insight, but still sad to see the amount of scaling back at the paper. I met an Arts & Culture reporter with the Ledger over the weekend who is ticking off the last few weeks she has left there, and I’ve heard from a few friends whose futures there were uncertain as of a few days ago.
Here’s hoping that properties like the Daily Newarker can help fill the gaps in coverage, and that the economy rebounds for those suddenly finding themselves looking for a job.
Additional coverage from the Times: Employees Take Cuts to Save Newark Star-Ledger.
Buyers are scarce in a business with fast-dwindling profits, at a time when banks have all but stopped lending money. Executives at other newspaper companies said that in better times they would have been interested in The Star-Ledger, but that they were scared away by the economic climate and by what they were able to determine about the paper’s finances.
Last month, Advance executives raised the prospect that rather than sell The Star-Ledger, they might simply close it. New Jersey business and political leaders protested that it would be a severe blow to lose the state’s dominant paper, whose weekday circulation of 345,000 ranks 15th in the country. Five years ago, the paper’s circulation was 408,000.
Poynter Online has provided a reprint of the memo sent internally to staff at the Ledger reporting the news, and the text of a full-page ad: Star-Ledger publisher’s memo re drivers’ deal.
Now we must undertake the difficult task of deciding which applications will be accepted or rejected, and which remaining employees might be transferred to other jobs. This will not be a quick process, because we find ourselves with far more applicants than the 230 I told you was the number we would accept without rejecting any applications.
We will work hard to make good decisions about the organization going forward, and to let applicants know as soon as possible whether or not their applications will be accepted and, if accepted, when their final day of work will be. Our goal is to make all these decisions no later than the end of October. If you have questions in the meantime, please contact me directly or ask Mona Rowe in HR.