Friday, January 31, 2020

Gheorghe Explains: News in Decline

Recently in this space, veteran ink-stained wretch Dave Fairbank offered an insider's view of the sad fate of the American newspaper. He closed that post about Alden Global Capital's increasingly (and negatively) impactful place in our nation's news industry by saying, "I have no idea how Alden’s tenure will affect my friends and former co-workers in Newport News and Norfolk. I would like to think that they’re far enough down the food chain to grant them some reprieve from the butcher’s knife. Both shops have been through several rounds of cuts and layoffs through the years, so little fat remains. But given the bloodless chase for profits and satisfied investors, nothing would surprise me."

As we learn today, he was right not to be surprised.

Local newspapers are shrinking and disappearing at a troubling rate, which I wrote about here recently, after hedge fund and newspaper strip-miner Alden Global Capital bought into Tribune Corporation and by extension my old shop, the Newport News (Va.) Daily Press, and companion rag, the Norfolk Virginian-Pilot.

I bring it up again because, in advance of Alden coming on board this summer, Tribune offered buyouts to journalists with eight or more years’ experience. Within the next couple of weeks, my old newsroom and that of the Pilot are going to be gutted beyond even what I imagined. Friends and colleagues are going to be out of work. Local journalism will suffer. People will be less informed.
There have been several rounds of buyouts and staff purges over the past 20 years, and many of us chose to weather them and take our chances. This time, however, editors and administrators who weren’t simply spouting the corporate line advised reporters to take the buyout. Reporters and photogs were told that if they chose to stick it out, instead of receiving months of severance pay and benefits depending on length of tenure, that it is quite possible they could get pink-slipped and receive only two weeks’ pay and a box to haul out their stuff.

Any excuse to post this pic of Fairbank and Teel will do
From what I’ve been told, the sports departments will lose at least four veteran reporters – three from the Daily Press, one from the Pilot – who have a combined 120 years’ experience, beaucoup awards and irreplaceable institutional knowledge. One of them, my compadre and former roomie David Teel, was recently honored as state sportswriter of the year for the 13th consecutive year. He’s covered the ACC for 35 years. He’s a member of the state Sports Hall of Fame. Administrators, coaches and athletes return his calls because they trust him and know he’s good at his job. You might think that he’s the sort of figure that management would want to keep around, to convey at least the appearance of professionalism amid massive change. In fact, he asked if he could remain until the end of basketball season. Clean break, and all that. He was told, hard no, and here’s the buyout paperwork and here’s how and where to file it.

I have no sources about the reasons and timing of this round of buyouts and staff reduction, so I’ll be the kind of journalist I generally abhor and hazard a guess: the buyouts were conditional for Alden’s buy-in. Cutting staff now means that Alden cannot be blamed, technically, for doing so later. Alden also didn’t want buyout salaries, bennies, and “dead” money on its books when it comes on board.

(Side note: I’m happy to be told I’m wrong and welcome other possible explanations from those who visit this speakeasy and are more astute than me on corporate financial matters – which encompasses pretty much all of you.)

It was a bit of a whirlwind. Announce buyout plan Jan. 13. Paperwork sent out to eligible employees Jan. 21. File by Feb. 3. Gone Feb. 7.

The verbiage from the company is as confounding as it is discouraging. The Prez and CEO of Tribune Publishing sent out a memo saying that business is improving, but expenses remain high. That company-wide layoffs are a last resort, but here’s a buyout package for tenured staff. That they’re committed to digital products and subscriptions, but there’s still a lot of money tied up in the print product and they must reduce expenses in anticipation of continued decline.

The new editor-in-chief of the Pilot and Daily Press sent out a memo announcing the departure of several staff members. It contained the following:

“In the coming weeks, we will assess workflow and realign the newsroom as needed to continue      creating exceptional journalism. Change can be challenging but it’s necessary for our future success.”

Yes, because nothing conveys creating exceptional journalism like encouraging exceptional journalists to walk.

There are days when I miss the job. Conversations, storytelling, big games, explaining things to people, the adrenal rush of deadlines, the satisfaction of doing a job well. I no longer miss the business of newspapers and what it has become, the lives disrupted and ultimately readers and populace cheated. Saddens me greatly.

25 comments:

  1. That Fairbank/Teel photo is giving me some legit Hall and Oates vibes

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  2. i very much enjoy that photo.

    tying a bow on the previous post, my sister's childhood nickname was indeed squirrel, but that wasn't known to the gents who bestowed the nickname on me. only established after the fact.

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  3. Young Mr. Fairbank was quite the specimen. I bet he still has the sneer.

    My local paper was just sold from Berkshire Hathaway to Lee Enterprises, and Alden bought a 5.9% stake in it, quite a bit less than their stake in Tribune. We'll see how it plays out here in the western part of the state.

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  4. Interesting timing! I watched the first half of the 30 for 30 on Vick last night. Teel is all over it, giving context on what a big deal Vick was in Newport News.

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  5. Senor Roots, here's some detail on Lee's purchase of BH newspapers and Alden buying in. The phrase that Alden "intends to engage in discussions ... about certain operational and strategic matters" should terrify anyone employed by or who cares about those papers.

    https://dfmworkers.org/now-alden-is-circling-lee-newspapers/

    TR, one crazy aspect of Vick coming up thru youth leagues and HS at that time is that he was overshadowed by a kid named Ronald Curry. Two-sport star at a far more successful HS program. Eventually went to North Carolina, where he played QB and hoops, then hung around the NFL for a time. Curry remains the best, most polished HS football player I've ever seen. Allen Iverson was probably more gifted and more dynamic, but Curry was the best.

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  6. I remember Curry from the basketball team. The Tidewater area is a hotbed of athletic ability.

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  7. Living here in NN and having kids go to Warwick now, Vick is still a huge deal here. He visits the school every few years to give motivational speech, he basically rebuilt the Boys/Girls Club that was a major deal in his life, his relative (aunt maybe or cousin) is Vice-Mayor/city council-woman and connection to him remains influential...
    Mike Tomlin from up the west part of city (Denbigh).
    All a big deal!

    The way things seem to be turning in Senate definitely sucks!

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  8. my first baby just got accepted into the dance and choreography program at vcu. we got some emotions happening up in here.

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  9. Nice! Congratulations to the Squirrel family!

    I was living near Hampton Roads when Curry was coming up. Among the more hyped high school athletes I can remember. Had more than respectable college careers in both football and basketball. Which is quite remarkable at a major D1 school for a QB/PG. He just happened to be overshadowed during that time by two all time talents from the same area in Vick and Iverson.

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  10. Side note on Curry: Saw him play basketball in high school. He played at Hampton HS. They were known as the Crabbers. He was rocking high white socks that read Crabbers down the sides. I really wanted those socks.

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  11. Joe Smith was also touted heavy at that time.

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  12. And there’s a gheorghie who was the leading receiver in the Tidewater Conference if Independent Schools in 1987.

    Conference schools numbered 4.

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  13. Whit- I lived an hour and change away from your area when I went to Chowan. We got all your local news on TV and it felt like 75% of the student population was from that area. I spent many weekends in Chesapeake, Virginia Beach, Hampton and Newport News. Even a couple in Williamsburg.

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  14. i assume they were still showing highlights of norfolk academy's number 88 rumbling downfield, stopping to puke up the 6 beers he had pregame, and continuing into the end zone on wavy tv 10 at that time

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  15. We all remember Curry. He was unbelievable. And let’s not forget Alonzo Mourning, another Hampton Roads stud.

    Is Bruce Rader still there?

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  16. I’m not excited to watch the Lakers pre-game ceremony at 10 tonight, but I feel like it is necessary.

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  17. Game not over yet, but here are Kyrie’s stats against the Bulls:

    54 pts, 19-22 from the field, 7-9 from behind the arc. I think that’s pretty good.

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  18. Same feeling for me on the happenings in LA, TR.

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  19. I'm struggling to stay awake just so i can watch the pregame ceremony.
    And, on a lighter note--what are those glasses that Jalen is wearing?

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  20. I’m more focused on Jalen’s spectacular hairline.

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  21. Jalen’s hairline is perfect. And seemingly natural. As for those glasses, he seems to affecting a hipster vibe. Some stylist should’ve advised him otherwise.

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  22. Boyz II Men should change their name to Men II Old.

    Thanks! I’ll be here all week. Tip your bartenders.

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  23. Damian Lillard has some very questionable tattoos but he’s a god damn killer. Different player but he embodies that Kobe-esque desire to be the absolute best. I’m an enormous fan.

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  24. Boyz II Men have gotten a lot of run out of their Kobe tragedy. One question: What happened to the fourth boy/man?

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