“I will provide you with a final list of affected employees on or by June 28, 2019.” “ is still considering other Reading Eagle employees for possible employment opportunities,” writes Jennie Rodriguez-Priest, the Reading Eagle’s executive director of human resources. In the WARN notice, right after it states that no opportunities exist for any of the 81 employees to transfer to other positions, the document concludes by hinting that more cuts could be coming. At those properties and others, MediaNews Group has gained a reputation for dramatically shrinking staff and selling off each publication’s real estate holdings. On its website, the company lists seven daily newspapers, including The Mercury in Pottstown, five weeklies and two niche publications in the state. Barbey was keeping the company afloat with loans averaging about $250,000 a month, documents show.įor MediaNews Group, the Reading Eagle will add to its already significant portfolio in Pennsylvania. According to court documents, the company’s advertising revenue declined from about $17 million in 2016 to roughly $12.6 million in 2018. (Huber) Woolworth of Exeter Twp. Born in West Reading, he was a son of Joan L. The Reading Eagle, loaded with debt from a 2009 expansion in downtown Reading and losing advertising revenue at an accelerating rate, filed for Chapter 11 bankruptcy protection in March. Woolworth, III (Bill), 56, of Reading, passed away unexpectedly on March 30, 2022, in his residence. MediaNews, which owns about 200 publications and counts hedge fund Alden Global Capital as its largest shareholder, offered the minimum bid of $5 million to buy the company’s assets. Bankruptcy Court signed off on the sale of the bankrupt Reading Eagle to MediaNews Group, better known as Digital First Media. The filing comes nearly a month after U.S. That would represent more than one-third of the 221 employees on the Berks County company’s payroll as of last month. It serves the Reading and Berks County region of Pennsylvania. A family-owned newspaper until the spring of 2019, its reported circulation is 37,000 (daily) and 50,000 (Sundays). In a WARN notice, dated Friday but posted online Tuesday, the Reading Eagle’s human resources executive director lists 81 positions that will be cut when the sale to MediaNews Group closes June 30. The Reading Eagle is the major daily newspaper in Reading, Pennsylvania. MediaNews Group, a chain known for aggressively snapping up newspapers and implementing cost reductions, has informed Pennsylvania of the first job cuts it plans to make at the 150-year-old Reading Eagle Co.
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