One thought on “Media General Trading at $1.50”

  1. Media General just needs to the opposite of whatever they think they should do, a la Opposite George. This company has been a slave to their stockholders, and they’re being wrung dry by ’em. If I were a bajillionaire I’d buy a controlling chunk of the stock (now that MG is so cheap), to take the company private again. Then the company can be run responsibly, by grownups.

    Media General has got to invest in their newsrooms again. The damage they’ve done is akin to chopping down old-growth forests; it’ll take a while for the saplings to grow up. Newsrooms need young pups, eager just-out-of-college kids who will go to late-night meetings and work for lousy pay. But there need to be promotions and raises available for the good ones. Being a journalist needs to be a viable career. Over the years, I’ve seen the Progress become a 2- to 4-year stepping stone to various PR-related jobs, and little more. No reasonable human being would continue to work for slave wages after a few years, especially under the conditions of the ever-sparser DP newsroom.

Comments are closed.