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More from Lean Dean

Discussion in 'Journalism topics only' started by Left_Coast, Nov 3, 2006.

  1. Fran Curci

    Fran Curci Well-Known Member

    I believe that Media News had a similar deal with Gannett in California in the past.
  2. fishwrapper

    fishwrapper Active Member

    This is correct (AG Cap). So, in essence, it is a merger.
    And what will happen next quarter when performance is "sagging" because of a "soft economy"? Anyone know the next chapter?
  3. MileHigh

    MileHigh Moderator Staff Member

    Same as the previous 376 chapters.
  4. wicked

    wicked Well-Known Member

    Any sort of full-fledged JRC/MediaNews merger could really have an impact around Detroit and southern New England. I'm also wondering if it'd be subject to a DoJ review.
  5. rpmmutant

    rpmmutant Member

    Chapter 11. That can't be a promising prospect.
  6. BitterYoungMatador2

    BitterYoungMatador2 Well-Known Member

    What a fantastic Ponzi scheme. Acquire, acquire, acquire, acquire...while collecting a hefty salary and bonuses. When you can't borrow another dime or buy another paper, Oh well, sucks to be you. I got mine....
  7. MileHigh

    MileHigh Moderator Staff Member

    Well, with the pennies added in, there might be enough to acquire the Orange County Register, though probably not all of Freedom, though MN wants the Colorado Springs and OCR parts of Freedom the most.
  8. Versatile

    Versatile Active Member

    I don't understand why anyone would buy a newspaper at this point in time.
  9. fishwrapper

    fishwrapper Active Member

    This takes a little understanding of business and bankruptcy protection.

    These companies really aren't buying these papers. These companies are assuming debt ... for the most part. There are some corporate operating benefits, some mentioned above. Those benefits -- largely -- will have to do with taxes and federal/state exemptions, initially.

    So these "buying" companies are doing more "assuming" than buying, then when a creditor comes calling for a balloon payment or repayment, the company assuming the debt files -- or threatens to file -- for bankruptcy protection.

    The "assuming" company will renegotiate the debt at this time for a more manageable interest, enough for them to make a buck or two over the interest and operating costs. The creditors will then file huge losses on their tax returns (guess who flips that bill?) and the operating company will renegotiate with labor for reduction of benefits (medical, wage, vacation). Guess who gets fucked there?

    It's the Corporate American Way.
  10. LongTimeListener

    LongTimeListener Well-Known Member

    Yeah, I'm sure the DOJ will go out of their way to stop the burgeoning monopoly that will singlehandedly dominate the universe if left unchecked.
  11. wicked

    wicked Well-Known Member

    I said I was wondering, didn't say DoJ would. Given some of the other cases where they've stepped in during recent years, it wouldn't surprise me but it's far from a certainty.
  12. MileHigh

    MileHigh Moderator Staff Member

    Buyouts at the Denver Post. Looking for 15 to 20, which is about 10 percent of the newsroom staff.

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