Simplify the following text for a Grade 9 native English-speaking person.
Original: After years of circulation drops , in late March 2007 , Bronstein called an emergency staff meeting and reportedly stated that the news business `` is broken , and no one knows how to fix it . ''
Simplified: In late March 2007 , Bronstein called an emergency staff meeting and reportedly stated that the news business `` is broken , and no one knows how to fix it . ''