Gannett Buyouts and Cutbacks Hit Projo - Multiple Reporters Now Leaving

Gannett Buyouts and Cutbacks Hit Projo - Multiple Reporters Now Leaving

Gannett, the owners of the Providence Journal and more than hundreds of other newspapers across the country, has announced buyouts and cutbacks in recent months.

This week, the buyout program seems to have been the "out" for one of the Providence Journal’s top reporters.

G. Wayne Miller on Friday announced his departure from the paper after 41 years.

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Education reporter Linda Borg also announced her departure on Friday (see below). 

“During my long tenure, I was privileged to work with (and mentor) some of America's finest journalists, a few still at The Projo and others deceased, retired, or moved on to other opportunities. I owe all of them a huge debt of gratitude. I count many as friends,” posted Miller to his blog.

Miller is not alone.

Media Post reported, “Several Gannett journalists are leaving their posts, apparently accepting buyouts that were proffered as part of the company’s expense reduction program announced in August, according to scattered reports.” 

Gannett reported Thursday it posted significant losses for the quarter.

According to the third quarter report:

- Total revenues of $717.9 million decreased 10.3% compared to the third quarter of 2021 ◦ Same store revenues(2) decreased 9.0% compared to the third quarter of 2021

- Total digital revenues were $256.4 million or 35.7% of total revenues, down 2.3% over the same period in the prior year on a same store(2) basis mainly as a result of weakness in digital media year-over-year

- Net loss attributable to Gannett of $54.1 million, a loss margin of 7.5%