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Media General lays off 75 in Va. corporate office

Source : AP
Last Updated: Tue, Jul 31, 2012 22:18 hrs

Media General Inc. has cut 75 positions at its corporate offices in Richmond.

The reductions announced Tuesday amount to about a third of its headquarters staff. They come a month after the company completed the sale of 63 of its newspapers and publications in Virginia, North Carolina, South Carolina and Alabama to Warren Buffet's Berkshire Hathaway Inc. The $142 million deal left Media general with 18 television stations and digital media operations.

Company spokeswoman Lou Anne Nabhan tells the Richmond Times-Dispatch (http://bit.ly/Pjfg1Z ) the cuts affected every department, leaving the company with about 140 corporate employees. The Times-Dispatch was one of the publications sold in the deal.

In a letter to employees, Media General President and Chief Executive Officer Marshall N. Morton said the cuts were necessary for the smaller, more focused company.




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