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Freedom safe from MediaNews -- for now

Discussion in 'Journalism topics only' started by MileHigh, Aug 21, 2011.

  1. MileHigh

    MileHigh Moderator Staff Member

    Unstable markets have stalled a deal for MediaNews Group Inc. to buy Freedom Communications Inc.'s newspapers, people familiar with the matter said, a significant setback in the companies' efforts to navigate a more challenging media landscape.

    Inhospitable debt markets forced MediaNews, which publishes the Denver Post and many smaller papers, to postpone attempts to get financing for the deal, the people familiar with the matter said. MediaNews and its advisers believe financing terms would be prohibitive given recent market turmoil and a challenging outlook for newspaper companies, the people said.

  2. LongTimeListener

    LongTimeListener Well-Known Member

    Translation: "You want us to pay the money back this time? Fuck. Never mind."
  3. lesboulez

    lesboulez Member

    could this be the first of many? or just a blip for freedom's newspapers?

    Freedom Communications announced today it has reached agreement to sell the Clovis News Journal, Portales News-Tribune and Tucumcari’s Quay County Sun to Clovis Media Inc.

    It is expected the transaction, terms of which were not disclosed, will close before the end of February. All employees will transition to the new ownership.

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