It’s a tough time for media outlets. Media General, a company that owns the Richmond Times-Dispatch and local Daily Progress, has announced that it will cut two North Carolina papers to two days a week from five.
By the end of the month, the Reidsville Review and the Eden Daily News will only be printed on Wednesday and Sunday.
It was only a couple of weeks ago that the Daily Progress decided to furlough employees to a mandatory 10 days off without pay.
Both actions were taken because of the struggling economy. Yesterday, Media General’s stock closed at $1.28 a share, down 26 percent on the day. A year ago, the company’s stock was valued at more than $15 a share.