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Athletic, Axios talking merger?

Discussion in 'Journalism topics only' started by FileNotFound, Mar 26, 2021.

  1. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    Reminiscent of telling everyone they're different, and then gutting the freelance budget right around Mar. 13, 2020.
     
  2. SixToe

    SixToe Well-Known Member


    The nice or moral thing, some believe, is to notify subscribers about the upcoming renewal. Corporate doesn't give two shits about being nice or moral. They're only interested in making money. To them, subscribers should keep up with things.

    I think there's an app that either searches for all your subscriptions and gives you the pre-renewal notification or a way to cancel. I can't remember what it is.

    Edit -- the app is called TrueBill
     
  3. wicked

    wicked Well-Known Member

    Comcast ups my bill every year and I don't find out until I check my credit card bill.

    My mom's newspaper subscriptions seem to go up every six months, and again, I don't know until I've checked the credit card bill.

    That's the way the game is played. If you're getting a monthly vs. yearly sub, just cancel the next month. You're out the extra $8 or whatever, but most of us can handle that.
     
  4. MNgremlin

    MNgremlin Active Member

    My renewal was coming up in a couple weeks at the increased $71.99/year price. Can't afford right now. Went to cancel. Got a prompt saying "are you sure you want to cancel?" Again said to cancel. Then they followed with "well what if we only charge you $21.59 for the year?" So I caved in.
     
  5. Songbird

    Songbird Well-Known Member

    The Donald Trump School of Negotiations.

    It's not about subscription cash right now. They need subscribers to show viability and renewability.
     
    jykoy219 likes this.
  6. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    A doubly interesting bit of shuffling going on in New York, where Rangers beat writer Rick Carpiniello is "retiring" and Islanders beat writer Arthur Staple is now the hockey columnist covering both the Rangers and Islanders. Interesting b/c Lou Lamoriello has done exactly what anyone who's ever heard of him over the last 35 years would think he'd do given half a chance (Isles are, I believe, the only NHL team going Zoom only for "health and safety protocols" even though writers must be vaxxed and masked just to get in the building), so it wouldn't be shocking if Arthur looked to this gig as a way to do something, anything that didn't require another season of staring at computer screens. And it's also interesting b/c asking one guy to do two jobs and giving his new dual job a fancy new title sure is a thing a super duper corporation looking to shave costs as it desperately tries to find a buyer would do.
     
  7. Deskgrunt50

    Deskgrunt50 Well-Known Member

    FWIW, Carp’s piece on why he’s retiring seems genuine and doesn’t give the impression that he’s being asked to leave. Pretty sure if he was being given the boot he wouldn’t have written that.

    Could be wrong, etc.
     
  8. Sports Barf

    Sports Barf Well-Known Member

    Do this with Sirius XM every year. There isn’t an act of terrorism they wouldn’t be willing to commit to keep your business. Not a bad business model
     
    playthrough likes this.
  9. playthrough

    playthrough Moderator Staff Member

    This reminded me to call them, my subscription is up in a couple weeks. Renewed at half the going rate and would have saved more except I didn't want to give up their top package, which has everything short of Howard Stern coming to the house to read my mail.
     
  10. DanielSimpsonDay

    DanielSimpsonDay Well-Known Member

    FanDuel, DraftKings are Among Bidders for The Athletic

    Fantasy and sports betting providers, FanDuel and DraftKings, are among a number of companies that have submitted bids to buy sports news site The Athletic, according to people familiar with the situation.

    The subscription-only sports news site recently tapped LionTree to explore a sale of all or part of its business after talks with The New York Times Co. and separately with Axios failed, as The Information previously reported. The Athletic, whose investors include Founders Fund, Courtside Ventures and Powerhouse Capital, is seeking a valuation of more than $750 million
    .
     
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    Oy. I can't read the article. ... But from the headline, that would undoubtedly be a bad thing for the Athletic. Neither FanDuel or DraftKings are profitable. Everyone is all excited about the sports gambling market. ... but these are companies that have borrowed billions of dollars because the lending markets have been disorted so much by the Fed for so long, and as their actual operations burn through cash, they are out there doing acquisitions and losing a ton of money at the same time. ... like DraftKings and Golden Nugget. They are not strong businesses, yet at least. They are zombie companies selling a story to a bubbled up market, and the only thing keeping them darlings is the ability to borrow more and more money at ridiculously low interest rates -- their debt to equity is exorbitant. The Athletic may be small in comparison to them, but at least by all accounts the money they have raised was in exchange for equity, which isn't a weight on the company itself. They haven't loaded up their balance sheet with billions of dollars of debt while not showing any ability to profit on an operating basis.

    One of two things would have to happen for this to be a good thing for the Athletic. Either the company (DraftKings or FanDuel) that acquires them will have to suddenly perform in a way it has shown no ability to do yet -- i.e. -- not lose money and stop burning through more and more borrowed cash and turn the corner to profitability somehow -- or the Fed is going to have to keep blowing a debt bubble bigger and bigger for eternity so that the acquirer can remain a zombie company that doesn't earn anything but doesn't go bankrupt under the weight of its escalating borrowings.
     
  12. BYH 2: Electric Boogaloo

    BYH 2: Electric Boogaloo Well-Known Member

    This would seem to be a super bad thing for the editorial side as well.
     
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