Question-and-Answer Session
Operator
(Operator instructions) Our first question comes from David Miller at Caris & Company. Mr. Miller?
David Miller – Caris & Company
Yes. Hi, good afternoon. You guys were pretty clear in your prepared remarks. I guess I just had a question about the headcount reduction. We followed you guys for a long time. I was always under the impression that you were already lean enough. I’m just curious as to where the headcount reduction will come from. Thanks.
Philip Wilkinson
Thank you, David, it is Philip. Thanks for joining us. Headcount, we just effectively laid off 100 employees, and I think about 20 of those are part-time, and 80 were around in full time. And a lot of that came from – we did away with weekend news and two major markets in Las Vegas and in San Diego. And then, we had – we found a couple of areas where we can, for example, have a national sales manager from one market to handle the business for an adjacent market because they’re very similar accounts of the same agencies, so we found some efficiencies there. But – and we also had a portion of that 80 full-time people came out of our radio operations in Los Angeles, both evenly from the network side and the station side in Los Angeles. But as Walter said early on, we think that we absent the loss of the weekend news in two markets, which was almost 20 people, we are able to maintain the quality in our news product and certainly we’ve been able to maintain the going forward effort on our sales and marketing side as well.
David Miller – Caris & Company
Okay. Thank you.
Philip Wilkinson
You’re welcome.
Operator
Our next question comes from Marci Ryvicker from Wachovia.
Marci Ryvicker – Wachovia
Thank you. Good afternoon. I have a couple of questions. The first one, anything you can tell us about retransmission consent negotiations, any conversations with Univision that you can share?
Walter Ulloa
As you know, we are lined with Univision on the retransmission negotiations, but at this time there’s nothing to report. And we do have something to report but certainly we’ll be out there with the information. But the negotiations continue.
Marci Ryvicker – Wachovia
Okay. And the numbers you gave for political and Reventon, were those net or gross?
Walter Ulloa
Those are net numbers.
- To read the full transcript on Seeking Alpha, click here »
