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LVRJ sold?

Discussion in 'Journalism topics only' started by Inky_Wretch, Dec 10, 2015.

  1. Inky_Wretch

    Inky_Wretch Well-Known Member

    Rumor has it Gatehouse has spun off the Las Vegas Review-Journal and sold it to a new investment group.
     
  2. Twirling Time

    Twirling Time Well-Known Member

  3. Inky_Wretch

    Inky_Wretch Well-Known Member

    "Here, you buy it from us but we'll keep running it for you" is an odd arrangement.
     
  4. Inky_Wretch

    Inky_Wretch Well-Known Member

    So who is the anonymous buyer of the LVRJ? Even the employees don't know yet.

     
  5. LanceyHoward

    LanceyHoward Active Member

    The new buyers paid a lot of money. The website of the seller, New Media Inc. said that they sold Las Vegas for 140 million, which means they made 50 million on the flip. New Media said they got seven times EBITA. The company said they did not want to sell but with so many papers available at 3.5-4.5 times EBITA it was better to unload the LVRJ and use the money to scoop other papers.
     
  6. wicked

    wicked Well-Known Member

    It sounds like someone is trying to clean some money and dumping it into a real business. The guy who is a frontman for the new owners owns a pair of small dailies in Connecticut ... there's no way he has that kind of dough.
     
  7. Inky_Wretch

    Inky_Wretch Well-Known Member

    This is all very odd. Overpaying for a paper that is in worse financial shape than when the owner bought it?
     
  8. Baron Scicluna

    Baron Scicluna Well-Known Member

    Sounds like somebody was made an offer they couldn't refuse.
     
  9. Inky_Wretch

    Inky_Wretch Well-Known Member

  10. HanSenSE

    HanSenSE Well-Known Member

    Players to be named later?
     
    Doc Holliday likes this.
  11. Baron Scicluna

    Baron Scicluna Well-Known Member

  12. Inky_Wretch

    Inky_Wretch Well-Known Member

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