In the past month, the Houston Chronicle and the San Antonio Express-News have announced layoffs, buyouts, and cut backs. A third, major Texas paper (I have been asked not to say which one) will announce extensive cuts in a couple of weeks.
Will Dallas’ Only Daily Newspaper be next?
Its circulation numbers have been awful, among the worst in the country, and worse than either Houston or San Antonio. In addition, the stock price of Belo, its parent company, has lost almost one-quarter of its value this year. Buyouts in 2006 and the announcement this summer that Belo will split into separate TV and newspaper businesses haven’t helped the stock price or the company’s financial situation.
This might not be the best time for any employees to make large purchases.
