Media General Furthers Furloughs

Ad slump forces greater cost cutting

Media General is requiring employees to take five more furloughed days by the end of the year, reports the Richmond Times-Dispatch. The company cited an ongoing advertising slump as the reason.

The new round of unpaid days brings the total to 15 for Media General employees in 2009. The company brought broadcast expenses down 20% in the second quarter, compared to the same quarter a year ago, thanks in part to the furloughs.
A Media General spokesperson confirmed the Times-Dispatch report.
The Richmond-based company owns 21 daily newspapers and 18 television stations, mostly in the southeast.