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March 10, 2009

McClatchy Newspapers to Eliminate 1,600 Jobs
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In media news, the Mc Clatchy newspaper chain has announced plans to
eliminate 1,600 jobs, or 15 percent of its workforce. Newspapers
affected by the layoffs include the Sacramento Bee, the Kansas City
Star, the Fort Worth Star-Telegram and the Fresno Bee. Meanwhile, the
New York Times has announced it has sold twenty-one floors in its
fifty-two-story headquarters in Times Square in an effort to raise $225
million. Under the terms of the deal, the paper will lease back the
floors for the next fifteen years.



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