It’s been a rough couple of days for the broadcast biz. On Monday, the Tribune Company filed for bankruptcy protection. Tribune owns TV stations in 19 markets, as well as the Chicago Tribune, the Los Angeles Times, and the Chicago Cubs. According to tvnewsday, the company is struggling with a $13 billion debt.
In addition, according to Bloomberg, “Equity Media Holdings Corp., the operator of English- and Spanish-language television stations in 41 U.S. cities, sought bankruptcy protection after defaulting on a $41.5 million loan.”
There’s also news of people losing jobs as reported by New York Daily News:
The talent exodus at the NBC O&O is continuing with four familiar faces leaving by year’s end. Long Island bureau chief Carolyn Gusoff, correspondent Monica Morales, sportscaster Otis Livingston and weathercaster SallyAnn Mosey found out late last week they would be leaving, though some still have time left on their deals.
And newcasts are falling by the wayside as reported in the San Diego Union-Tribune:
The NBC O&O is cutting its early-morning Spanish-language newscast; the weekend morning newscasts and its Friday morning lifestyle show. The station would not comment on the number of layoffs, but sources familiar with KNSD say the cuts involved at least 12 employees, including editors, photographers and production staff members, but no on-air talent.
In this climate, it’s still important to keep perspective. There are still jobs to be had, but the search may take a little longer and the competition may be tougher. For those of you in the hunt for work right now, we’d love to hear about your experience – especially what you’re finding in terms of the need for multimedia skills.