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Stock impact report

California Times folds Burbank Leader, Glendale News-Press and La Cañada Valley Sun [Los Angeles Times (CA)]

Tribune Publishing Co (TPCO) 
Last tribune publishing co earnings: 11/7 04:10 pm Check Earnings Report
The Los Angeles Times’ parent company, California Times, is folding three award-winning community newspapers that serve the cities of Burbank, Glendale and La Cañada. Fourteen staff members learned Thursday that they were being laid off with severance. Ten are members of the Los Angeles Times NewsGuild. The decision comes as the Times, and other news organizations, grapple with a staggering losses in advertising revenue due to the coronavirus pandemic and local stay-at-home orders. Advertisers have withdrawn their advertising buys, forcing publishers to make cuts to their businesses. Final editions of the Glendale News-Press and the Burbank Leader are planned for Saturday. The Valley Sun sets April 23, with its final issue. The three community papers -- Burbank Leader, Glendale News-Press and La Cañada Valley Sun -- were an attempt to serve readers with intensely local coverage: information about city councils, school boards and high school sports relevant primarily to their particula Show less Read more
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