February 26, 2009

Welcome recession news.....

Whether they depend on donors, advertising dollars or a combination of the two, mass media ministries are feeling the recession squeeze:

• Christian radio giant Salem Communications sold four stations, slashed 10% of its workforce and trimmed 5-percent off all salaries. Nonetheless, Salem's stock price has tumbled 74% in the past year to less than $1 per share.

• Trinity Broadcasting Network (TBN), the nation's largest Christian TV network, has laid off workers and scrambled to fill programming holes as T.D. Jakes, Joyce Meyer and other big-name ministries cut costs by producing fewer shows.

• Focus on the Family, which has produced James Dobson's radio show since 1977, has eliminated about 450 jobs (30% of its workforce peak) since 2004, including 200 job cuts since November.

Full story here.........

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