As Gannett moves closer to reporting third-quarter earnings on Oct. 24, I expect lots of speculation -- informed and otherwise -- about advance moves that Corporate in McLean, Va., might make in the flagging newspaper division, to satisfy restive stockholders.
With that in mind, a reliable tipster says in an e-mail: "All sites are waiting for new targets re: expense cuts. Each site last week turned in contingency plans reflecting three scenarios -- 3% reduction, 5% reduction and 7.5% reduction. Before those even reached McLean, the publishers got word that targets calling for deeper cuts would be forthcoming. Group publishers were in McLean at end of last week to work on this with Corporate. Rumor has it that numbers are rolling out today. . . . Big things are on the table this time, including eliminating Monday editions at smaller papers and more aggressive consolidation efforts."
Can anyone confirm -- and add details? Please post your replies in the comments section, below. To e-mail confidentially, write gannettblog[at]gmail[dot-com]; see Tipsters Anonymous Policy in the green sidebar, upper right.