PORTLAND, Maine (AP) — The head of MaineToday Media Inc. is stepping down at the end of the year.
CEO Richard Connor announced Friday that he is resigning effective Dec. 31. MaineToday Media owns The Portland Press Herald, the Kennebec Journal in Augusta and the Morning Sentinel in Waterville.
Connor headed up an investment group that bought the papers from The Seattle Times in June 2009.
In a prepared statement, Connor said it was time for a change for him, his family and for the company.
He said the company has revised its online products, launched a new digital division and recently reported the first increase in paid newspaper circulation in nearly five years. He said he remains a “significant” investor in the company and “believes in its future.”
Earlier this month the Press Herald announced layoffs, both voluntary and involuntary, that resulted in 61 job losses. In all 38 people were laid off and 23 agreed to buyouts.
The layoffs were blamed on a decline in advertising revenue for the cuts, most of which hit the newsroom of the state’s largest daily newspaper.
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- Richard Connor
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