By now, you probably know the answer to that one: It’s because they’re always making news.
In fact, they’ve never had an announcement that made me laugh more than this one.
As I sat in the front row of the Los Angeles Times newsroom this week, I kept thinking about this headline, which went viral on Twitter: “World’s Most Trusted News Channel is Ending Its News Departments.”
I was not laughing, of course.
The headline is true, and there’s no doubt that the news department is in a terrible state right now.
But if you’re a new subscriber, you might be wondering, “Why is that news?”
So let’s take a look at the facts.
It turns out, it’s because the news division of the Associated Press is shutting down.
This week, it announced that it would be laying off 1,200 people.
There are now 1,633 employees at the news bureau.
There’s a reason for this: AP has been struggling financially.
Since 2016, the AP has lost almost half of its revenue, or $10.9 billion, which is down about 20 percent from the previous year.
The AP had a net loss of $3.5 billion in 2016, according to financial documents.
It had a $7.4 billion loss in 2015.
But now, AP has to start from scratch.
That means layoffs, downsizing and the like.
And the layoffs are expected to continue.
“We’ve always been a news organization and we’re not going anywhere,” said Amy Bala, AP senior vice president of news.
“This is the first time in our history that we’ve had to do this.
We’re doing this for the long term, not for the short term.”
So why would the AP shut down the news?
“It’s very simple,” Bala said.
“The AP is under a tremendous amount of pressure to generate revenue.”
And, she added, the news organization has to do it without the help of the AP’s newsroom.
“As a news source, we do rely on newsroom support,” Balasaid.
“And we have been doing it with tremendous sacrifice and work, and we are grateful for that.
But we’re going to be going back to a much simpler model, and that’s the AP cutting out news.”
The AP also is cutting the newsroom staff by 50 percent.
The news division has about 3,000 employees.
This means AP will be cutting about 1,000 people, Bala noted.
The layoffs are due to a $5.9 million cost-cutting effort.
But, she said, AP is not cutting the staff completely.
Instead, it will be laying people off and bringing in new employees.
“I want to thank everyone who has worked at the AP over the past 10 years, and to the AP newsroom for all the hard work you’ve done,” she said.
But Bala also admitted that she was not happy with the way the news operation was performing.
“AP has been in this business for decades, and it’s not the news that people want to see, and I think that’s a shame,” she admitted.
“So I am going to have to make some tough decisions in the future.
I’m not going to sit here and say I’m going to lay off 1 percent of our newsroom.”
Bala is the CEO of CBS News, which will be closing the newsrooms in both the Chicago and New York markets.
CBS News said it would not be announcing a new newsroom until January of next year.
“Our newsroom will be closed in January of 2019,” CBS News news director Jim Prentice said in a statement.
“CBS News is committed to maintaining the AP as the top news source in the United States, and will continue to work with our newsrooms to keep AP at the top of the news.”
But the AP will continue with its news division.
In its statement, the Associated News said: “The news department has been operating under a constant state of crisis for over a decade.
The current financial strain is unprecedented and we expect that newsroom costs and staffing will continue.
It is essential that we maintain AP’s lead in news coverage and that we continue to support the news industry to grow.”