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Tuesday, June 3, 2014

More newspaper layoffs at another Stephens property

Posted By on Tue, Jun 3, 2014 at 9:43 AM

Journalism websites are buzzing today with news of big layoffs in the newsroom of the Worcester (Mass.) Telegrampurchased recently from Boston billionaire John Henry by the Dayton, Fla.,-based Halifax Media Group. One of the equity investors in Halifax is Stephens Capital Partners of Little Rock. It is an invesment apart from its own Stephens Media, which has been downsizing considerably in Arkansas recently, including recent layoffs at the Fort Smith daily newspaper and Central Arkansas weeklies.

Investors apparently still see profit in newspapers — with enough firings of employees.

Another Arkansas angle: John Henry, who owns the Boston Red Sox, spent some of his youthful years in Arkansas as the child of soybean farmers who spent time split between Illinois and Arkansas. He finished high school in California and made a fortune as a commodity futures trader and investor.

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