In media, buyouts are a popular way for a company to entice senior staffers, who often make more money than junior employees, to retire early. Buyouts, which became popular especially at struggling newspapers in the aforementioned period, are essentially early retirement packages.
How a buyout is structured depends wholly on how a company decides to structure that buyout. In May 2008 the Washington Post, for example, offered a round of buyouts (not it first) to staffers. In a piece in the paper about the buyout offer, it was explained that it went to “staff members who were at least 50 years old and had at least five years of Post experience.” It also offered veteran staffers “the equivalent of two years' salary.” The Post's offer is an example of what a buyout can look like.