“Increased geographic synergies”. Just typing that bullshit sentence makes my blood pressure spike. Yesterday, Torstar and Postmedia swapped nearly two-dozen newspapers for the sole purpose of shutting them down, and reducing competition. Hundreds of people will lose their jobs, including my friends at Our London, for whom I write a biweekly column. They have about six weeks left before the padlock goes on the door.
CEOs can put whatever buzzwords they want on it but this move is about one thing: shareholders. That’s why they’re killing the only local news source in many communities. Another part of one of the statements read that, “..we will be able to put a greater focus on regions where we believe we can be more effective in serving both customers and clients.” Translation: We will extend the reaches of our bigger properties into the smaller areas and hope to acquire their advertising dollars.
Google “Paul Godfrey bonus”. Read the Q and A with him from the February 2017 issue of Toronto Life. Excuse me, I need to meditate for a couple of minutes or my heart will explode.
Thank you for your patience.
This means more than tossing experienced and talented journalists to the wolves, although that’s part of it. It also means a reduction of skeptical people watching politics and politicians for us. The result is fewer opinions to consider as you seek to broaden your understanding of the issues. But this is the reality we live in. As long as we all understand the pecking order:
CEOs’ favourite executives
Seven layers of manure