I don’t know how many steps are left to go, but the Minneapolis Star Tribune definitely took a step closer to bankruptcy this week as negotiations broke down between its labor unions and management. The company has essentially been there for some time since it has defaulted on its debt, but my guess is that [...]
This appeared in yesterday’s taste section of the Minneapolis Star Tribune. Apparently a few critical people in the Strib’s workflow are no longer with the daily newspaper…
The Business Journal is reporting this afternoon that senior creditors are stepping in to take over ownership of the Minneapolis Star Tribune in a debt for equity swap that eliminates 100% of Avista’s ownership in the daily newspaper. Avista invested $100 million in the deal and financed the rest with $400 million of debt, the [...]
Without question, any city with two competing dailies or even neighboring cities with dailies can start counting the days until those dailies either merge or force each other to collapse completely. In a great piece on Followthemedia.com, Philip Stone describes two such markets: Dallas-Fort Worth and L.A.-Orange County. There are undoubtedly others, such as Seattle [...]
According to the New York Post, which for some reason has zeroed in on the saga, the Minneapolis Star Tribune has approached its creditors and asked for a 6 month delay in making debt payments. The story reports that the creditors (Credit Suisse being he biggest) are resisting the appeal and are demanding that Avista [...]