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Times buys Tampa Trib

Discussion in 'Journalism topics only' started by BDC99, May 3, 2016.

  1. Tarheel316

    Tarheel316 Well-Known Member

    I wish you were wrong about this but you're not.
     
  2. da man

    da man Well-Known Member

    I've mentioned this before, but I work for an association that represents car dealers and all the industry experts (including ours) have been telling dealers for at least the past seven years that print advertising is a waste of money and they should put their ad dollars into Internet/social media advertising.

    Car dealer ads are not going to save newspapers.
     
  3. DanOregon

    DanOregon Well-Known Member

    Obits may. I wish I got paid per inch of copy what those things cost these days.
     
  4. hondo

    hondo Well-Known Member

    I don't think competition has ever been threatening to two competing businesses. Does he believe a tenth of the BS he spouts?
     
  5. hondo

    hondo Well-Known Member

    Car dealers just start their own web sites and list their inventory. You can make appointments or even whip a credit card out to put a down payment or at least enough to hold a car for you. Make service appointments, pay for the service in advance if you want, etc.
     
  6. da man

    da man Well-Known Member

    That is correct, but they still have to advertise (just not in newspapers) to get people to find those sites. And most of them list their inventory on third-party sites like Autotrader, TrueCar, etc., which costs a little something, too.
     
  7. LanceyHoward

    LanceyHoward Well-Known Member

    I have had a couple family members lose jobs and know that it is not easy so my sympathies to all affected.

    But the Times says they said they would get a paper to the doorstep of all Tribune subscribers Wednesday. If they were successful that means they can print the combined papers with existing staff. Which means that they do not need to hire many of the Tribune staff and almost all of the 265 Tribune employees are out of work.

    Let's assume the 13.3 million that the Trib borrowed was close to the purchase price (even if the Times CEO says it was not). The Times borrowed that much for a reason. 13.3 million is not an unreasonable price for a major market metro sans real estate. Orange County just went for 16 million after the real estate was flipped.

    And let's assume that the salary and benefits of the Tribune employees was 50K a year. That is about 13.3 million a year. So the Times gets payback in a year.

    Which leads to a question. Is this blitzkrieg the first of a trend? A paper will buy a paper in a neighboring town, close it as quickly as possible before the Feds can stop it and get a quick payback?
     
    Last edited: May 4, 2016
  8. HanSenSE

    HanSenSE Well-Known Member

    And don't forget direct mail and those dozens of shoppers.
     
  9. playthrough

    playthrough Moderator Staff Member

    It's a flawed statement because the Tribune was hemorrhaging, and the Times only less so. If both companies were on solid ground then, sure, the region could sustain both. But the people running these businesses just never knew what hit them, then never figured a way out of the abyss.
     
  10. BDC99

    BDC99 Well-Known Member

    I would almost say more so, but that's up for debate. Times had the MAJOR loan issue, as well as the pension lien, looming, but The Times was in the perfect spot as both buildings sold, taking over the printing operation of the Trib and freeing up some cash on their end. Though word is the deal was secured the same day the printing contract was. Disgusting they would let the middle management of the Trib try to find a place to work, when it was a done deal all along.
     
  11. 3_Octave_Fart

    3_Octave_Fart Well-Known Member

  12. ChrisLong

    ChrisLong Well-Known Member

    I wondered about the WARN act when this all went down the other day. Just figured they found a way around it.
     
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