Strib Again Bleeds Red
The Star Tribune lost another $451,000 last month after just squeaking by into profitability in May, bringing the amount of money it’s lost since entering bankruptcy Jan 15 to $5.1 million.
MinnPost’s David Brauer reports that compensation and benefit costs for its 1,600 workers are to blame for the Strib’s loss; when new contracts renegotiated under bankruptcy kick in, the $8.5 million it paid out last month is expected to shrink.
In May, the Star Tribune Guild, which represents editorial, circulation, and promotion/creative employees, agreed
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