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"Employees at the North Jersey Media Group were angry that Chairman Malcolm 'Mac' Borg skipped the all-hands meeting on Wednesday where it was announced that the company’s The (Bergen) Record, Herald News and other papers were sold to Gannett, ending four generations of family ownership. Borg, in a memo, said it was a “bittersweet” ending for 86 years of family ownership of the 121-year-old daily. Only his son, Stephen Borg, president and publisher of The Record, attended and spoke at the meeting. Although Gannett assured all staffers that they were all retained in the acquisition, most employees fear it is only a matter of time before pink slips start flying. Gannett already owns the Asbury Park Press and five other papers in New Jersey and is infamous for cutting costs and staff locally and centralizing operations to boost margins.", nypost.com
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