I’ve got to hand it to the big wigs at the NYT Company. The folks who run the Old Gray Lady sure seem to have their crystal ball polished for perfect viewing.
Today NYTC announced it is putting all of it’s tv stations on the block. I hear they want to sell them all, at once and before the end of the year.
I know there’s a lot of folks who draw paychecks from these stations who are either anxious or very concerned about what will happen next. Who knows who’ll purchase them (Scripps Howard perhaps?) and what changes they will make?
But here’s some speculation:
Suppose to make the sale more attractive, the NYT decides to cut expenses. Normally that would mean job cuts and layoffs. The trade off there is that along with losing expenses you’re also losing assets (employees). Now that’s the deal with most companies in this situation, but what if there was a way to cut payroll without decreasing the number of employees? What if the company put a clause in it’s contracts to give the company the power to cut salaries and provide no out-clauses for those employees?
It’s smart for the company, but it smarts if you’re one of those employees.
I’ve got lots of friends at those stations and I certainly hope and pray I’m wrong.