RICHMOND, Va. (AP) — Media General Inc. has cut 75 positions at its corporate offices in Richmond.
The reductions announced Tuesday amount to about a third of its headquarters staff. They come a month after the company completed the sale of 63 of its newspapers and publications in Virginia, North Carolina, South Carolina and Alabama to Warren Buffet's Berkshire Hathaway Inc. The $142 million deal left Media general with 18 television stations and digital media operations.
Company spokeswoman Lou Anne Nabhan tells the Richmond Times-Dispatch (http://bit.ly/Pjfg1Z ) the cuts affected every department, leaving the company with about 140 corporate employees. The Times-Dispatch was one of the publications sold in the deal.
In a letter to employees, Media General President and Chief Executive Officer Marshall N. Morton said the cuts were necessary for the smaller, more focused company.