The Denver Newspaper Agency, which operates the business functions of The Denver Post and Rocky Mountain News, recorded declines in revenue and net income in 2006.Now the Post is offering buyouts to "around 90" of its 268 newsroom employees. Look out below.
A March 30 filing to the Securities and Exchange Commission shows that from 2005 to 2006, the DNA reported a 60.8 percent drop in net income and a 5.3 percent decline in operating revenue.
Net income fell from $47.2 million in 2005 to $18.5 million in 2006. During the same period, revenue dropped from $431.7 million to $409 million. Net income is profit, and operating revenue is made up of advertising and circulation sales. . . .
The DNA and The Post have cut staff in the past year, and the News said last month it aimed to trim 9 percent of its newsroom with voluntary buyouts.
Wednesday, April 25, 2007
Missed this when it came out earlier this month. Profits plunge at DNA: