AJC is losing $1 million a week
Employees were told the bottom had fallen out of the embattled paper’s revenues sometime around October.
Welcome to the poorhouse.
This past Monday, AJC staffers were informed about the sudden “retirement” of their boss, publisher John Mellott. Perhaps the first question that popped into everyone’s mind was, Who retires at 51?
On Wednesday, during the newspaper’s quarterly staff meeting, employees got to meet the new publisher, one Doug Franklin, who has years of experience as a veteran newspaper executive. (Mellott, by contrast, had previously run another Cox subsidiary, Dent Wizard.)
They were told that the bottom had fallen out of the embattled paper’s revenues sometime around October, which served to confirm the widely held suspicion that Mellott had been pushed out.
Franklin also told the assembled crowd that the AJC is currently losing about $1 million every week.
From what I understand, that little news flash got everybody’s attention.