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Technology Stocks : Media Stocks--Newspaper, TV, Radio, etc.

NYT 69.54

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Dec 29 3:59 PM EST

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From: joseffy	2/16/2009 12:04:50 PM
	of 826

Pols to Times: Don’t cut Globe staff By Jesse Noyes Boston Herald Business Reporter Thursday, October 19, 2006 Commonwealth politicians and union leaders fired off a missive today to New York Times Co. Chairman Arthur Sulzberger asking him not to impose further cuts at the beleaguered Boston Globe. The letter - signed by 20 Massachusetts politicians, including Sen. Edward M. Kennedy and Rep. Stephen Lynch - urged Sulzberger to “resist pressures to cut staff and other resources.” The Globe is owned by the Times Co. “Over time since the New York Times Co. acquired the Boston Globe in 1993, a troubling pattern of disinvestment, downsizing, outsourcing and cost cutting has emerged. We understand the difficulties that the entire newspaper industry is encountering. . . . The Globe is not immune to these conditions,” the letter said. “However, neither is the Globe immune to the damaging effects of newsroom staff reductions. A shrinking news hole and the elimination of bureaus have stung the morale of employees facing increased health care costs and wage freezes,” the letter said. The letter comes amid turbulence at the broadsheet. Last night the Boston Newspaper Guild, which represents about 1,000 Globe union members, shot down a proposed four-year contract that would have tied wage raises to increased revenues at the paper but not to the paper’s Web site, Boston.com. The contract was voted down 307-223 by union members. Today the Times Co. said its third-quarter profits dropped by 39.2 percent. Circulation revenues were down 1.3 percent at the company primarily due to weakness at the New England Media Group, the Times Co. said. The Globe represents the bulk of that unit. Advertising revenues were down 12.4 percent at the New England Media Group compared to the same time last year.

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