What Gannett Co., Inc. has been doing is taking money out of local economies where they own stations, including the St. Louis area. The way they do it is by cutting the work force and shrinking wages and salaries of the people who actually do the work at the local level. That money they take from the local economy goes to those at the very top at corporate HQ in the D.C. area. About $2,000,000,000.00 of that just went to purchase Belo, thereby doubling the number of TV stations they own. They didnt create the capital themselves. Their employees did.
Posted on: Fri, 28 Mar 2014 00:19:06 +0000
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