Monday, March 2, 2009

Courier-Journal battered by economy, Internet; publisher predicts resurgence

Whether daily newspapers will survive the convergence of multiple trends — declining revenue, declining readership and a deepening recession — or are weakened to the point they’re pushed into extinction by the Internet is anyone’s guess.

What’s certain is that the impact of a diminished newspaper industry on Louisville’s business community already is evident on several levels, including a decline in relatively high-paying reporting, editing and advertising jobs at The Courier-Journal, a decline in media-related revenue at area advertising firms and a shift in focus at university communications programs.

The Courier-Journal, owned by McLean, Va.-based Gannett Co. Inc., has made multiple rounds of staff cuts since June 2007, though it remains one of the city’s largest employers.

In mid-2008, the company was the 32nd largest employer in the Louisville area, reporting 805 employees — 20 percent fewer than in 2004, according to Business First’s list of major employers ranked by number of employees, published Aug. 8, 2008.

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