Media General reported some bad financial news today — they’ve cut their projections for their publishing division’s Q3 earnings in half based on terrible earnings for the month of August. They chalk it up to a soft advertising market, a drop in ad spending by auto makers, and the ubiquitous “higher energy costs.”
This means, of course, spending cuts at newspapers, including the Daily Progress. That means reducing the staff’s already-pathetic pay (sorry, guys) or reducing the number of employees, probably through leaving positions unfilled. That, in turn, means shallower coverage. For the publication that’s at the top of the area’s information ecosystem, that’s bad news for all of us.