Wednesday, October 03, 2001

Statement of Charles Overby on Freedom Forum reorganization

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ARLINGTON, Va. — Charles L. Overby, chairman and chief executive officer of The Freedom Forum and Newseum, has made the following statement:

The Freedom Forum will conduct a major reorganization this fall, designed to look ahead to our move to Pennsylvania Avenue. This reorganization signals the beginning of the transition to our new facility.

The timing of the reorganization and transition has been moved up by the serious downturn in the stock market. In the last two years, our assets have declined from $1 billion to $700 million.

We have had to choose which priorities we will emphasize over the next several years. We had to decide where we could make the most impact. We had to choose between going forward in Washington or maintaining offices in New York City and international offices in London, Johannesburg, Hong Kong and Buenos Aires.

We chose Washington.

We are fully committed to our remaining priorities: the Newseum, the First Amendment and increasing diversity in our nation's newsrooms. We still hope to open the new Newseum sometime in 2005.

The reorganization means that our staff requirements for the future will change. Some programs will be eliminated or curtailed. Others, like the new Newseum, will be strengthened. During the transition period, we expect a significant reduction in staff.

We will start with a voluntary buyout program for full-time staff.

These moves will ensure our ability to build and operate an expanded, state-of-the-art Newseum. Its educational outreach and high visibility will help millions of people learn about freedom, the press and the First Amendment.

Contact: Beth Tuttle
703/284-3722

Related

Most freedomforum.org international press coverage ends
Foundation, Web site priorities focus on First Amendment, Newseum, newsroom diversity; international links will remain.  11.19.01