Stephens paper wields axe | Arkansas Blog

Tuesday, October 28, 2008

Stephens paper wields axe

Posted By on Tue, Oct 28, 2008 at 3:37 PM

Some Arkansas newspaper employees undoubtedly hope that what happens in Las Vegas stays in Las Vegas.

I refer to news here that the dominant Las Vegas daily newspaper is hoping to trim 50 to 100 people from payroll through buyouts. Go-go Las Vegas has been battered by collapse of the housing market and the rest of the poor economy.

The local angle: The Review-Journal is a property of the Little Rock-based Stephens financial empire, acquired when Stephens bought the Donrey media group years ago. Stephens Media operates a number of newspapers in Arkansas.

It's happening all over, by the way. The blog operated by former Arkansas Gazetter Jim Hopkins reports that the Gannett Corporation is going to lay off 10 percent, or 3,000, of its newspaper division employees by early December. Gannett owns one newspaper in Arkansas, the Baxter Bulletin in Mountain Home.

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