A month after announcing a $2.6 billion merger with Lin Media, Media General is cutting 45 corporate and shared services jobs.
In an email sent to staffers, obtained by TVSpy, CEO George Mahoney says the cuts are meant to decentralize operations and give greater control at the local level. “It’s important that we have a structure that allows us to focus increasingly at the local, station level, closer to the customer, so that we can be nimble and responsive to our communities,” Mahoney writes.
When the merger is complete, the new Media General will be the second largest station group in the nation with 74 stations in 46 markets, reaching 23% of U.S. TV households.
The affected employees have been notified, a Media General spokesperson tells us. “Many of those who are affected are stars and have been with us for many years,” Mahoney writes. “They have, and deserve, our deepest gratitude and appreciation for their hard work and long-standing commitment to Media General.”
Mahoney is among those leaving the company when the deal is completed. Media General chairman Stewart Bryan will stay on in that capacity, while LIN CEO Vincent Sadusky will be the CEO of the combined entity.
Mahoney’s note, after the jump…
April 25, 2014
Dear Fellow Employees,
As Media General grows as a pure-play broadcaster and a leader in our industry, it’s important that we have a structure that allows us to focus increasingly at the local, station level, closer to the customer, so that we can be nimble and responsive to our communities.
With this focus, we’re restructuring our corporate functions, utilizing best practices in the broadcast television industry, to place more operating responsibility at the station level. This change in Media General’s business model decentralizes decision-making and results in a leaner corporate structure. The changes, which are under way, have been considered carefully. All affected employees are being notified this week, although some individual changes are not effective until later in the year for various business reasons.
The total number of positions to be reduced is approximately 45. Affected employees will receive severance in accordance with Media General’s practices, and outplacement support will be available.
The departures are by no means a reflection on the performance of the employees who will be leaving us. Indeed, many of those who are affected are stars and have been with us for many years. They have made incredibly important contributions to our company. They have, and deserve, our deepest gratitude and appreciation for their hard work and long-standing commitment to Media General. We wish them the very best.