A big announcement from my 'local' news station

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Yesterday there was something going on at my 'local' news station. This station is located in a city an hour away from me, and is the closest thing to local news we have(Toronto being the next closest Canadian news). All day the reporters and anchors were working away, knowing that something big, and not so good was possibly around the corner. They had gotten a mysterious deposit into their banks, which they had speculated could be severance pay. At 4 pm, they cut their news programming(they do news all day) and broadcast an announcement. The station has filed for bankruptcy and will cut their news broadcasting by 68%, starting Tuesday. This will leave some employees without jobs, some with cut hours, and I am sure others with cut pay. I like my local news station, so I am very sad to see this happening.