Pros
A closely-held company and a very stable business, so there aren't a lot of big sweeping changes. There's also not a lot in the way of edicts from up top over things we have to include in our coverage. They pretty much let our newsroom be. Local management is responsive to concerns and proactive in updating newsroom equipment. OK health options, 3% 401(k) match kicks in after a year, vests a year after that.
Cons
Communication isn't the best between sister stations, though there's definitely an effort made. Nobody told me up front anything about vacation days, employee guidebook or any of that. Because there are three unions in the building (or I was told that's the reason), timesheets are still on paper, which can be lost, misplaced, misfiled. Not a lot of opportunity for advancement, unless you count skipping town advancement.