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Revised revised topic: Decatur (Ala) Daily buys the (Florence) TimesDaily

Discussion in 'Journalism topics only' started by HejiraHenry, Mar 10, 2009.

  1. HejiraHenry

    HejiraHenry Well-Known Member

    Some hot speculation, which may not have any underpinning except hot air, suggests that the Retirement System of Alabama – and I assume this would be through CNHI – has been offered a chance to buy one or more NYT Regional Group properties. Or maybe all of them.

    The most obvious newspapers on the list would be the ones in Alabama – Florence, Gadsden and Tuscaloosa.

    Release the hounds.
     
  2. doctorx

    doctorx Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    My paper was among the small properties the Times unloaded back in 2000. At least we didn't go to CNHI.
     
  3. Lollygaggers

    Lollygaggers Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    I get that CNHI is based in Alabama, but what's the connection between the state's retirement system and the company? Would the state technically own the properties?
     
  4. Rockbottom

    Rockbottom Active Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    VERY interesting ...

    rb
     
  5. 2muchcoffeeman

    2muchcoffeeman Active Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    The Retirement System of Alabama (teachers, law enforcement and public employees) provided $110 million to get CNHI off the ground by buying a bunch of dinky Midwest papers that Media General was in the process of unloading. CNHI is a standalone company but the executives' job as I understand it is basically to ensure a good return on the RSA's investment. Unfortunately, that usually means that the newspaper staffers' retirement financing is much less assured.

    Can't imagine that CNHI is in a financial position to make another large acquisition unless RSA kicks in another huge check. Given the trends of the newspaper industry, how likely is that check?
     
  6. Tarheel316

    Tarheel316 Well-Known Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    Why would anybody want to buy a newspaper now? Look what happened when McClatchy took on Knight-Ridder.
     
  7. HejiraHenry

    HejiraHenry Well-Known Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    That is a good question. RSA has investments in the Shoals – as they call the four-town region that includes Florence and Muscle Shoals – including an RTJ golf course and they dug deep to help back a railcar assembly plant there.

    But, to answer your question, I do not know.
     
  8. 2underpar

    2underpar Active Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    I'm pretty confident that cnhi or the rsa are not players in this game. not saying those properties aren't for sale -- i'm pretty sure every nytreng property would be dealt for the right price. it's just not cnhi or rsa in the mix for those alabama properties, at least not the one in NW Alabama.
    carry on.
     
  9. slappy4428

    slappy4428 Active Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    That would be something... and not something good.
     
  10. Rockbottom

    Rockbottom Active Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    Not to disagree with 2under, as he is more of a position to know than I, but this would *certainly* put a different spin on a certain ME's column in the past Sunday's paper. :)

    RB
     
  11. Pencil Dick

    Pencil Dick Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    Developments on this topic are going to be VERY interesting, I'm told ... and quite surprising.
     
  12. JackReacher

    JackReacher Well-Known Member

    Re: Is CNHI buying Alabama's NYTREG papers?

    This can't be good. Can it?
     
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