JPMorgan Chase Becomes Gannett's Largest Stakeholder

Former Gannettoid here who know works for a trade publication that covers the payments industry. This little nugget of news came over my work Twitter feed last night.

Chase says "better days are ahead for the slumping newspaper industry", which is why they made the investment.

You have to wonder how much influence Chase might have in the Gannett empire. While that empire is weaker, it's still spread from coast to coast.

 

I hope this is good news.

 

Or they could be driving the price up and then dump it.

 

But why would a bank get involved in this industry, whether it was going well or poor?

 

. . . hard to believe that a measure of policy influence via fiscal might isn't in play, here.

 

JPMorgan Chase likely will be Tribune's largest stakeholder once ink on the bankruptcy agreements is dry.

Creditors get 91 percent of the company, and Chase was a senior creditor.

 

Link?

 

http://www.google.com/hostednews/ap/article/ALeqM5jvUK_mbpDTTGPRnAKi02mJOqGQKgD9FKTV1O0

 

Thanks.