STEVE INSKEEP, HOST:
NPR's business news starts with cuts at the Tribune Company.
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INSKEEP: This is the Tribune Media Co., which announced yesterday it's laying off 700 employees. The company owns seven daily newspapers including - of course - the Chicago Tribune as well as the LA Times. And it says the cuts will mostly affect the publishing side of the business, not editorial staff.
The company says this is part of an ongoing effort to consolidate its business. The Tribune Co., you may recall, has struggled with declining ad sales and emerged from bankruptcy late last year. Transcript provided by NPR, Copyright NPR.