The business news from Gannett is not good. Earnings are down 60 percent. Ad revenues across the board are off 28 percent. Woe might be the popular mood.
So what’s the publisher of the Courier-Journal to do?
Arnold Garson is putting a happy face on everything, reassuring C-J staffers that the sky is not falling, that the future of the paper is bright and that Gannett made $78 million in the first quarter. Yippee!
Here’s an excerpt from a letter Garson sent to employees today:
First, the reports of our demise are wrong. You can tell your ad clients, community members, and subscribers not to worry. That is what I am telling them every chance I get. We are in the midst of the most serious recession in 80 years, but The Courier-Journal is a viable business with a viable future. We will continue to see change, and we will continue to keep expenses in line with revenue realities. But we will get through this and we are positioned well for the recovery when it arrives. I am not suggesting that all of our lost revenue will return. But I am confident that we will share in the better times that will follow.