MEN Media, publisher of the Manchester Evening News and weekly titles across Greater Manchester, has briefed staff on a range of proposed changes to the business and a restructure which will include 150 redundancies.
The major changes announced at MEN Media are designed to protect the business and its journalism for the future through a new model with significantly lower fixed costs.
The local and regional press is facing the worst conditions in living memory as the economic downturn exacerbates and accelerates longer-term structural changes in the behaviour of advertisers and readers.
The viability of local and regional titles is under threat due to steeply falling revenues that are not expected to return to previous levels even when economic conditions improve. Publishers therefore need to find a sustainable new model if they are to survive.
Mark Dodson, chief executive of MEN Media, said: "The problem we face is that we are in unprecedented times as far as the regional press is concerned.
"We've seen an alarming drop in revenue from our classified advertising business and what that has meant is there is real pressure on the profitability of the company.
"What we need to do to remain profitable is make considerable savings within the business and that has meant we have to make 150 people redundant in MEN Media."
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Major shake-up at M.E.N media
March 11, 2009
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