LA Weekly Examines Village Voice Layoffs
By AAN Staff
july 31, 2003 11:50 am
Nobody is denying that the papers and their
corporate parent are still making money, but
Howard Blume speculates that the recent
layoff at the flagship paper in New York was
designed to reassure investors that company
management "can be trusted to look out for (their)
interests." Blume asserts that VVM profits "have been
held below investor expectations" due to a
still shaky economy, rising health-care costs and
issues associated with the company's controversial
deal with New Times. Blume also reports that
VVM reached a "tentative, compromise
agreement" this week with the union at LA
Weekly.