On Thursday, McClatchy—the publicly-traded owner of 30 local newspapers, including the Miami Herald, the Charlotte Observer, and the Kansas City Star—filed for bankruptcy. The company will continue to operate, but is seeking relief from debt and pension obligations; if that goes to plan, it’ll pass into the control of Chatham Asset Management, a hedge fund which is already McClatchy’s top creditor, and which also owns the Canadian publishing giant Postmedia and the parent company of the National Enquirer. On Friday, McClatchy’s DC bureau reported that a federal pensions agency has concerns about a 2018 transaction between McClatchy and Chatham that could put the brakes on the bankruptcy process. Still, McClatchy—which has been family-controlled since the aftermath of the California Gold Rush—looks likely to end up in the hands of the 21st-century prospectors who increasingly own the local-news business. Local-news-watchers have traced McClatchy’s present plight to its decision, in 2006, to buy Knight Ridder, then America’s second-biggest newspaper company, in a deal worth $4.5 billion. (Yes, with a “b.”) The deal burdened McClatchy with debt, and since it was struck, ad revenue and print-circulation figures have cratered. A recent hike in digital subscriptions has offered some respite; still, between the Knight Ridder acquisition and the middle of last year, McClatchy cut nearly 60 percent of its operating expenses and more than 80 percent of its full-time staff,... Continue reading at 'Columbia Journalism Review'
[ Columbia Journalism Review | 2020-02-17 13:11:10 UTC ]
News tagged with:
#big publisher
#canadian publishing
A Tribune Publishing investor sued the media company's directors and Chairman Michael Ferro for spurning an $864 million buyout offer from Gannett and seeking a cash infusion from a billionaire health-care entrepreneur.Tribune's board members are seeking to unfairly entrench themselves by taking... Continue reading at Advertising Age
[ Advertising Age | 2016-06-03 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#media company
#cash infusion
#board members
#taking steps
Derek Jeter’s The Players’ Tribune and Budweiser are launching a content studio, which will focus on short-form videos and photos for Facebook, Instagram and other social platforms. The launch is part of a broader strategy at The Players’ Tribune to diversify its video content and grow audience... Continue reading at Digiday
[ Digiday | 2016-05-24 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#content studio
#video content
#derek jeter
#social platforms
#broader strategy
#grow audience
Tribune Publishing, infused with a $70.5 million investment from billionaire Patrick Soon-Shiong, rejected Gannett's latest takeover offer, escalating the battle between the newspaper publishers.Gannett's revised proposal is "clearly inadequate" to control the owner of the Los Angeles Times and... Continue reading at Advertising Age
[ Advertising Age | 2016-05-24 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#york trading
#vice chairman
#second-largest shareholder
Comics publishers seemed happy with BookExpo's move to Chicago show, citing the opportunity to meet new Midwestern retailers. Continue reading at Publishers Weekly
[ Publishers Weekly | 2016-05-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#comics publishers
#raina telgemeier
#box brown
The second-largest shareholder of Los Angeles Times owner Tribune Publishing said Wednesday that passing up a buyout offer from rival publishing company Gannett could "destroy enormous shareholder value." In a letter sent to Tribune's board and filed with the Securities and Exchange Commission,... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-05-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#tribune publishing
#second-largest shareholder
#buyout offer
#exchange commission
Gannett and Tribune Publishing leadership met in Chicago Thursday, but no progress was made on an unsolicited bid to buy the Chicago-based newspaper chain, according to a Securities and Exchange Commission filing.The meeting, held at the suggestion of Tribune Publishing Chairman Michael Ferro,... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-05-14 00:00:00 UTC ]
More news stories like this |
The Los Angeles Times building. The owner of the newspaper, Tribune Publishing Company, rejected an unsolicited offer from Gannett. Continue reading at The New York Times
[ The New York Times | 2016-05-05 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#tribune publishing
Bestselling author Vijay Govindarajan’s new book offers leaders a method for balancing the priorities of the present, the past and the future. Continue reading at Knowledge@Wharton
[ Knowledge@Wharton | 2016-05-04 00:00:00 UTC ]
More news stories like this |
Tribune Publishing's purchase of the Orange County Register and Riverside Press-Enterprise is doomed if the U.S. Department of Justice obtains a temporary restraining order on antitrust grounds, the owner of the Los Angeles Times argued Friday.The publishing company's $56-million cash offer for... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-03-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#tribune publishing
#riverside press-enterprise
#antitrust grounds
A U.S. District Court judge has approved a temporary restraining order to block Tribune Publishing’s purchase of the Orange County Register and Riverside Press-Enterprise, a decision that the owner of the Los Angeles Times has described as a “death-knell” to its bid. The publishing company's... Continue reading at Los Angeles Times
[ Los Angeles Times | 2016-03-19 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#riverside press-enterprise
The concept behind Book In A Box - that aspiring authors can outsource the entire writing and publishing process - might be controversial, but then founder Max Tucker has made a bestselling publishing career out of profitable controversy. Continue reading at The Bookseller
[ The Bookseller | 2016-02-16 00:00:00 UTC ]
More news stories like this |
Digital First Media, the owner of the Los Angeles Daily News, has indicated interest in bidding for the Orange County Register and other assets of bankrupt publishing company Freedom Communications. That move could set up a three-way bidding war for the Register among Digital First, Freedom... Continue reading at Baltimore Sun
[ Baltimore Sun | 2016-02-02 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#bidding war
#freedom communications
Penguin has been wishing shoppers "seasons readings" with book giveaways in Manchester and London as part of a new Christmas campaign. Continue reading at The Bookseller
[ The Bookseller | 2015-12-17 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#christmas campaign
You could say I have a sentimental attachment to the chain bookstore. Growing up in an intellectually impoverished American suburb, I spent much of my free time in now-defunct locations of Borders and Barnes & Noble. I read garbage, mostly: popular history magazines, Star Trek novelizations,... Continue reading at Slate
[ Slate | 2015-12-15 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#barnes noble
#naked women
#building blocks
December 27 will mark the final appearance of the print section, which was launched with great fanfare as a 24-page weekly supplement in 2012. In addition to books reviews, it featured author interviews, essays, literary news and a weekly work o ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-12-11 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#print section
#literary news
On the Canadian author's birthday, Google honors Lucy Maud Montgomery's famous novel 'Anne of Green Gables.' Continue reading at The Christian Science Monitor
[ The Christian Science Monitor | 2015-12-01 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#canadian author
#green gables
Tribune Publishing Co., the owners of the Los Angeles Times, offered $3 million to fund Freedom Communication Inc.’s bankruptcy case during the newspaper publisher’s first bankruptcy hearing Wednesday. A lawyer for the ... Continue reading at Editor & Publisher
[ Editor & Publisher | 2015-11-04 00:00:00 UTC ]
More news stories like this |
A new company founded by a former Penguin Random House digital exec is making a big bet on original, serialized digital fiction. Continue reading at Publishers Weekly
[ Publishers Weekly | 2015-09-18 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#company founded
#big bet
Penguin is releasing a boxed set of its Little Black Classics set (3rd September, £80). The set will include all 80 of the titles that were released in February to celebrate Penguin’s 80th anniversary, each priced at 80p and comprising of 64 pages. The list featured less well known titles by... Continue reading at The Bookseller
[ The Bookseller | 2015-08-08 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#80th anniversary
#jane austen
Twenty-four years after the death of classic children's author Dr. Seuss, his hidden manuscript was published today to the delight of fans of all ages. Continue reading at ABC News
[ ABC News | 2015-07-23 00:00:00 UTC ]
More news stories like this | News stories tagged with:
#seuss book
#classic children
#published today