I've written about the tough financial times at the newly-combined owner of The Montgomery Advertiser, and I've felt truly sorry for the many journalists who have found themselves out of work---for good---and those who have had to take a week off without pay for each of three months.
Now one of the top dogs at Gannett has been let go. USA Today reports:
"Gannett Co. on Thursday said that the CEO of its operating company, Paul Bascobert, will leave the company after the board eliminated his position to streamline its operating structure.The departure is not the result of any inappropriate action or violation of policy by Bascobert, or by any deterioration in the business, the company said."
Many paragraphs down into the story there's this note:
Bascobert is eligible for a payout package of $7.5 million.
Is that burying the lead or what?
Just saying.
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