Digital First Media to pay out profit sharing bonus.
I wanted to let you know that the company’s annual audit has been completed, and our earnings have been verified. As a result, the profit sharing plan in place for fiscal 2015 will pay out up to the full one week’s pay to all eligible employees. We anticipate payment on September 22 through the normal payroll process. Congratulations, and again thank you for all that you do and have done for the company.
I also wanted to update you on our efforts to better define and create a road map for the future of the company. We are calling this Outlook 2020. During the past couple of months, we have had a group of talented employees actively involved in researching and evaluating our options for continued transformation of the company. Those employees include Michael Anastasi (Executive Editor-LANG), Jason Cross (VP Digital-Bay Area), Dave Elchoness (VP Digital-DFM), Ryan Huschka (VP Digital-St Paul), Brian Kroll (VP Sales-Ad Taxi), Frank Pine (Director Audience Development-DFM and Managing Editor Digital News-LANG), and Reid Wicoff (VP Digital-Denver).
While we have done well in transformation and growth of our digital businesses relative to our industry peers, our progress has been neither fast enough, creative enough, nor dramatic enough to ensure a sustainable media business model for the future.
If you have ideas or input which you would like to convey regarding the company’s strategy and options for the future, please provide that to this group. We will be setting up an email mailbox titled outlook2020@digitalfirstmedia.com to capture your ideas and feedback. The outcome of this effort will be a significant milestone for the company. Your input and expertise are invited and welcome. We anticipate that this work will continue through September and into October. Once the plan is completed and endorsed by the senior management team, we will provide further information through employee meetings.
We are a successful and financially sound company in an industry which is striving to transform itself and adapt to the changing media landscape. As you know, there are considerable competitive and technological issues, as well as changing consumer patterns and demographics, which demand that we operate differently. The company’s long term success is dependent upon your participation in assuring that all of our best thinking is incorporated into our future plans. Let’s all work together to build upon our recent successes and create a path to a sound future.
Thank you.
