Business Media Blog

Damn it. We were right.

Could we have a day off from the bad news? EMAP inform, the bit that does Local Government Chronicle and Drapers has announced 40 redundancies.

Meanwhile Centaur reports its revenues have slumped and its share price slumps in harmony to an all time low of 46p - less than half its float price five years ago.

Everybody is now rushing around like headless chickens trying to make it right. But why, we are entitled to ask as shareholders and employees, has it taken so long to wake up and smell the coffee. I have been accused by some correspondents and readers of this blog of being a pessimist. Actually I am not. It just makes me mad as hell that we have left this all so late. We loyal readers of BMB, have seen it coming for two years. But it is not too late. Radical and innovative steps will still pay off. But please don't do the obvious. There was a story yesterday (forgive me I have lost the link) saying that Conde Naste were cutting digital costs to defend print. Duh!

If anybody in B2B thinks thats a good idea send out for the club revolver and do the honourable thing.

Labels: Apax Partners, centaur, Drapers, EMAP, Guardian Media Group, Local Government Chronicle

posted by Businessmediablogger @ 2:52 pm