The pace of news about the decimation of the daily newspaper industry is accelerating, and the picture is getting uglier and uglier every week. Among the recent stories, McClatchy is freezing wages, Gannett is reducing headcount by 1,000, and JCPenney and Kohl’s both announced plans to drastically cut back their newspaper circular advertising. Cox Enterprises [...]
Once again, my list of stories to write about has expanded too quickly to cover each with its own post, so I’ll resort to a list of interesting things I’ve seen in the last few weeks about the daily newspaper industry.
1. Two daily newspaper publishers, seeing the handwriting on the wall and sensing that the [...]
Avista Capital Partners, owners of the Star Tribune, announced this morning that they did not make their quarterly interest payment on the $96 million in junior debt that accompanied the roughly $330 million in senior debt used to finance the $530 million purchase of the daily newspaper. While CEO Chris Harte reported that the company [...]