News “trims” itself


From The Australian:

NEWS LIMITED will collapse its eastern seaboard operations from 19 to just five divisions under a major restructuring that is likely to result in significant redundancies, although below the 1900 announced by rival Fairfax Media on Monday.

…News Limited also yesterday completed the purchase of Australian Independent Business Media, publisher of the Business Spectator website and Eureka Report.

There you go. No further evidence of where BS is going but it is no longer independent, nor is the Eureka Report. And it is of course important in a duopoly to fashion your downsizing in way that is smaller than your competitor. That 1901st employee should send flowers to Fairfax!

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.