Tuesday, May 20, 2008

Greedy Gannett

Despite being community newspapers based in sleepy North Yorkshire, The Press and the Gazette & Herald are ultimately owned by the massive American-based corporation Gannett, owners of USA today and dozens of newspapers across the pond. The intermediary is Newsquest, the firm's British operation.

Despite pleading poverty when it comes to their employees wages, new figures show how the bosses are raking it in. According to Gannett's website, in the period from the start of this year to May 4 - precisely four months and four days - the firm's revenue was more than $2.3 billion. That works out at revenue coming in each day, every single day, of $18,531,936.

The company made in excess of $1 billion profit last year alone. Compared to that, our pay claim is peanuts...