Scripps to cut 400 jobs

Bloomberg reports that E.W. Scripps Co. is cutting 400 jobs and suspending dividend payments, a move that will save the company about $15 million.
Cincinnati-based Scripps is the publisher of the Rocky Mountain News and will have fewer than 4,000 employees by the end of the year.
The article states that, "newspaper publishers have been trying to trim costs at a time when the decline in print ad sales has steepened and online ads aren't making up the difference. U.S. newspaper circulation fell 4.6 percent in the past year, and the price of newsprint has risen at a record pace."
For the full story click here.