MNG offers buyouts at Southern Newspaper Group

MNG Enterprises has offered staff in its 11-paper Southern Newspaper Group voluntary buyouts, according to The New York Post. Reporters are excluded from the offer, the paper reports. Papers involved include the Orange County Register and the Los Angeles Daily News. The deadline to apply for the voluntary separation plan is April 15, according to a memo obtained by The Post. “Over Age 50, as of April 1, 2019, will receive 16 weeks of base pay,” the memo read, according to The Post. “Under the age of 50-as of April 1, 2019, will receive 2 weeks of base pay for each year of service, plus an additional two weeks with a maximum of 12 weeks.” MNG Enterprises, also known as Digital First Media, is owned by New York hedge fund Alden Capital, which has been in headlines with its recent effort to buy Gannett.

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