Wednesday, February 18, 2009

Media Companies Find It Tough in Current Economy

Media companies are not exempt from the global economic woes.

Media General is the latest media company to announce cut backs in spending. The company announced today that it will be implementing a mandatory 10-day furlough for employees.

Media General owns and operates 296 newspapers and other publications, 19 television stations, and 75 online enterprises.

Media General isn't the first media company to announce a furlough program. The Gannett Company announced a 5-day furlough program for its employees in January. Employees must take the 5-day furlough during the first quarter of 2009.

When times are tough, companies don't have as much money to advertise. Advertising is how media companies make money.

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