Last week the LA Times union held a one day walkout to protest coming cuts which would eliminate about 20% of the workforce. The paper had one executive editor and two managing editors resign within a week. The owner also got pushback from a group of California Democrats who expressed concern that the Times was an “irreplaceable source” for their constituents. In other words, where are they going to find another left-leaning news outlet willing to nearly always agree with Democrats?
Monday I predicted that despite all the whinging the owner was going to make the cuts as planned simply because the amount of money the paper has been losing ever year ($30 to$40 million this year alone) is not sustainable even for a billionaire. Also because one report I read suggested the owner’s wife was brought to tears seeing him write million dollar checks every week. Taking a financial…
