Martin Merzer takes the deal

After an almost 30-year career, Miami Herald senior writer, has taken a buyout deal from the paper. According to one commenter that means he's eligible for 6 months of full pay and up to 3 months of health benefits.

Herald buying out employees

BizJournals.com is reporting that the Miami Herald is offering buyouts to 2% of its workforce. I think it's safe to say that 2% is just the beginning. The Herald needs to start cutting back in major ways and focusing resources on the growth areas of the business such as online.

Romenesko has the memo from Anders Gyllenhaal.

MNI shares closed at $9.92 on Friday which is more than a dollar higher than its 52-week low but more than $20 lower than its 52-week high.