According to this article at the onebigbang.org Web site, those San Diego Union-Tribune purchase rumors have been confirmed by SignOnSanDiego.com.
But some industry experts believe that MediaNews' debt levels make taking on another purchase a less-than-wise idea, no matter how attractive it may be for MediaNews to expand their regional monopoly.
Newspaper analyst Rick Edmonds of the Poynter Institute in Florida said financing could be an issue for both MediaNews and Tribune, which is saddled with $12.5 billion in debt. Much of that is related to a complex deal in which real estate billionaire Sam Zell took the Chicago-based company private last year.
“They would appear to have their hands full with the papers they have and the debt load they have,” Edmonds said.
Thursday, October 9, 2008
U-T plans confirmed
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3 comments:
Go Dean, Go! Good luck acquiring another newspaper!
I wonder if the Union tribune has 70 + year old managers, who can barely check open there emails ?
Copy-Boy !!!
If they manage to put their dirty fingers on the UT, I guess that the next round of layoffs will get moved up ahead of schedule.
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