When Tribune acquired Times Mirror they acquired papers with much lower operating profits than Tribune papers have traditionally thrown off. The L.A. Times has a larger staff than is typical for that size of paper. They've been trying to address that without appearing to be a slash-and-burn company.
More Quotes from John Morton:
There is no limit to the power of loving.John Morton
The news staffs of the newspapers affected have all been pretty fat by industry standards, ... The cuts don't leave these newspapers in what I would call a weakened condition.
John Morton
This is in response to fairly weak advertising performance,
John Morton
This is quite a dramatic change from what the history of the company has been in terms of whom the board has chosen to lead it.
John Morton
I used to think in the good old days, all a newspaper had to do to attract circulation was to put out a better newspaper. But young people don't seem any more inclined to read a good newspaper than a bad one.
John Morton
He has most of the dailies that now surround San Francisco proper and this only enlarges his presence in the area. With the California properties, Singleton has more of a motive than other folks to pay a higher price because it would enhance what he already owns.
John Morton
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