Scripps merging with Journal Communications

[PeterGibbons]

I guess this shouldn't come as a huge surprise since newspapers have been the red haired stepchild of the company for the past few years now

www.jsonline.com/business/news31-b99321641z1-269303021.html?ipad=y

 

[boundforboston]

Scripps is a pretty good chain, though.

 

[PeterGibbons]

Not nearly as good as they used to be... But I guess that can be said of most newspapers these days

 

[MileHigh]

Scripps is a pretty good chain, though.

Really?

 

[steveu]

Niiiiiice. Milwaukee's always had a pretty good newspaper, but I wonder if it will undergo the Scripps makeover now?

Starting out with a clean balance sheet is pretty good. Just wonder if this leads to some hiring at the JS. Not as far fetched as you might think. They have advertised some non-reporting positions as of late.

 

[Joe Williams]

I guess this shouldn't come as a huge surprise since newspapers have been the red haired stepchild of the company for the past few years now

www.jsonline.com/business/news31-b99321641z1-269303021.html?ipad=y

On behalf of redheaded stepchildren everywhere, I resent being compared to the death-spiraling dead tree industry.

 

[PeterGibbons]

Niiiiiice. Milwaukee's always had a pretty good newspaper, but I wonder if it will undergo the Scripps makeover now?

Starting out with a clean balance sheet is pretty good. Just wonder if this leads to some hiring at the JS. Not as far fetched as you might think. They have advertised some non-reporting positions as of late.

They better watch out then, Scripps has history of closing "really good newspapers"

Joe, I meant no ill will, maybe I should have said star bellied sneetches?

 

[old_tony]

Niiiiiice. Milwaukee's always had a pretty good newspaper, but I wonder if it will undergo the Scripps makeover now?

Starting out with a clean balance sheet is pretty good. Just wonder if this leads to some hiring at the JS. Not as far fetched as you might think. They have advertised some non-reporting positions as of late.

They better watch out then, Scripps has history of closing "really good newspapers"

Joe, I meant no ill will, maybe I should have said star bellied sneetches?

Now we know who is who
And there isn't a doubt
The best kind of Sneetches
Are Sneetches without

The old-fashioned custom
Of walking about
With stars on your belly
Is O-U-T out

https://www.youtube.com/watch?v=PdLPe7XjdKc

 

[Bob Crotchet]

Perhaps I'm misreading, but I thought Journal got control of the newspapers and Scripps the TV stations?

 

[steveu]

Journal did. The paper control goes to Milwaukee. That's why I think this might be pretty good in the long run. Of course, I could be wrong.

 

[MNgremlin]

So are we going to have the Journal Communications Spelling Bee now? Doesn't exactly roll off the tongue the same way...

 

[Baron Scicluna]

So are we going to have the Journal Communications Spelling Bee now? Doesn't exactly roll off the tongue the same way...

One AP story I saw said Scripps would continue with the spelling bee.

 

[LanceyHoward]

Do any of the Scripps papers still have defined benefit pension plans? The article said the broadcasting company will get the pension fund debt that will leave the papers debt free. Which leads me to wonder if the newspapers had a pension liability problems and will not want to jettison the pension plans.

 

[slappy4428]

Scripps is a pretty good chain, though.

Really?

I also beg to differ, for the same reason in a different state....

 

[JayFarrar]

A tv friend says this is all about Scripps buying up tv stations where they couldn't because of the cross ownership rules.

Said that stations in Fort Meyers/Naples, Memphis and Knoxville would be bought sooner rather than later.

 

[boundforboston]

Scripps is a pretty good chain, though.

Really?

I also beg to differ, for the same reason in a different state....

I guess my perception was wrong.

 

[Bronco77]

Starting out with a clean balance sheet is pretty good.

This may give the new newspaper enterprise a better chance than the soon-to-be Tribune newspaper publishing spinoff, which will be saddled with $300 million-plus in debt that will go toward paying a cash dividend to the "old" company.

 

[LanceyHoward]

A tv friend says this is all about Scripps buying up tv stations where they couldn't because of the cross ownership rules.

Said that stations in Fort Meyers/Naples, Memphis and Knoxville would be bought sooner rather than later.

That would make sense. Which leads me to wonder if Gannett, which is increasingly a local television company, will spin off newspapers.

 

[MileHigh]

A tv friend says this is all about Scripps buying up tv stations where they couldn't because of the cross ownership rules.

Said that stations in Fort Meyers/Naples, Memphis and Knoxville would be bought sooner rather than later.

That would make sense. Which leads me to wonder if Gannett, which is increasingly a local television company, will spin off newspapers.

The Tribune spinoff comes next week.

 

[PeterGibbons]

Do any of the Scripps papers still have defined benefit pension plans? The article said the broadcasting company will get the pension fund debt that will leave the papers debt free. Which leads me to wonder if the newspapers had a pension liability problems and will not want to jettison the pension plans.

No, the pension benefits went away 6 or 7 yrs ago (maybe longer) when they did the pay cuts across the company, they also had temporarily stopped the 401k match, but it got reinstated. Those vested in the pension stopped earning time when they stopped the pension.