Tight times for press
Twenty-year employees at the Reno Gazette-Journal have been offered buyouts, the latest local sign of the difficulties print journalism faces in the computer age.
Gannett, the corporate parent of the Gazette-Journal, has been trying to diversify to reduce its reliance on print. Last week the media giant acquired a controlling stake in Schedule Star, operator of HighSchoolSports.net, becoming the latest news conglomerate (Fox, CBS, Hearst-Argyle) to purchase a high school sports site. Also last week, Gannett—which also owns 90 other newspapers, including USA Today—reported that its net income dropped $234 million from $261.4 million in the quarter ending Sept. 30., with a concomitant drop in share price, $1.01 from $1.11.
President of the Gannett newspaper division is Sue Clark-Johnson, former Gazette-Journal publisher.