Running Lee Enterprises thread

This may not bode well for the Napa Valley Register, which is the only Lee property left in California after Hanford, Santa Maria and Oceanside were sold.

EDIT: On second thought, may be a good thing to be freed from the constraints of Lee.

 

I don't think it bodes well. I looked at Lee's investor website to see how much they collected for the sale of the latter three and it was not disclosed, which means it was not considered a material amount. I would think they would have tried to sell Napa and were unsuccessful, which means the paper is virtually worthless and struggling.

I keep waiting for chains to start trading properties and consolidate them. For example, Lee owns virtually every paper in Montana but Great Falls which is a Gannett property. Gannett owns Springfield, Illinois and Lee owns Decatur. So Gannett trades Great Falls to Lee for Decatur.

 

the Atlantic City Press is Lee's sole NJ property and another candidate for swapping. Gannett makes the most sense.

 

Gannett owns Springfield, Illinois and Lee owns Decatur. So Gannett trades Great Falls to Lee for Decatur.

And a pica pole to be named later.

 

Why does Gannett make more sense than Newhouse?

 

Newhouse is inscrutable. The family has a reputation for never selling a paper (New Orleans excepted) but they sold their cable company in 2106 to John Malone for over 11 billion dollars of cash and stock. So they have money despite the hits their newspaper and magazine divisions have taken.

For example Akron sold a few years ago to Gatehouse for 16 million dollars. I would have thought Newhouse would have been all over the Akron paper in order to consolidate with the Plain Dealer. And they clearly had the cash.

 

Newhouse gutted the Trenton Times and it's selling off the Staten Island Advance property -- the Gannett model to the nth degree.
The Advance is moving to a new Staten Island location. Here’s why.

 

I found the following from the attached article to be this:

"Much the same is happening at another Advance property in Grand Rapids, Mich. There, press operations will consolidate at an Advance printing facility in Cleveland." According to my Google maps Cleveland is 298 miles from Grand Rapids.

 

And a proportion wheel.

 

Why trade what you can acquire at a later date from a merger or bankruptcy court? At this point, I kind of assume leadership at all of these shitty chains assumes they're going to be the last one standing, as long as they can just hold out X months from their own issues.

 

A trade means you don’t have to use actual cash.