Norrin Radd
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- Joined
- May 29, 2007
- Messages
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gravehunter said:If he buys the LATimes, would this mean consolidation of newsrooms in the LA area?
That would be unique.
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gravehunter said:If he buys the LATimes, would this mean consolidation of newsrooms in the LA area?
Screwball said:The newsstand price has been lowered to 25 cents.
Screwball said:The newsstand price has been lowered to 25 cents.
The publisher says his model is more subscriber-based than advertiser based.
Kushner: "When you see very smart people like Kohl's or J.C. Penney who are actively reducing what they are doing, digitally, in order to do more in print, they're not doing it because it's trendy.
Perhaps it's because I lived through Sam Zell and remember the same adulation and endorsements.
BTExpress said:Perhaps it's because I lived through Sam Zell and remember the same adulation and endorsements.
Well, Zell did throw a company $13 billion in debt. The properties were --- and are --- profitable. Just not profitable enough to handle that debt burden.
Has Kushner thrown the OCR in debt? If not, he's at least a couple of steps ahead.
Zell also made only one promise to his newsrooms:
"No matter how this deal turns out, my lifestyle won't change. But yours might."
No doubt. Totally agree. I get the stock-option plan statements stating I'm fully vested and my shares are worth $0.
BTExpress said:No doubt. Totally agree. I get the stock-option plan statements stating I'm fully vested and my shares are worth $0.
True. But like me, you also (I assume) got $34/share in 2007 instead of seeing Wall Street pummel those shares to McClatchyesque $2-$3 levels. Every day I look at my 401(k) statement I can't help but offer a "Whew! Thanks, Sam."
As a Zell survivor who jumped off the RMS Tribune 16 months ago, I'm interested in seeing what happens with the newspapers. I certainly miss my former Tribune salary. If Kushner buys them and grows them . . . I might start having regrets about bailing.
Wife wouldn't, though. She got tired of 365 days of summer every year.
The one thing Kushner (and others) will have to look at are the pension numbers. Tribune's are huge (my upcoming $770/month notwithstanding). And it wouldn't be surprising to see would-be buyers pass when they see those obligations.
Do we know whether the bankruptcy court approved a reduction in pension benefits? Seems like SOP for companies in bankruptcy.
MileHigh said:As in spending money, reinvesting in the product? Building up the product? As if anything the past 10 to 15 years worked wonders?
Look, I have some skepticism too.* But what the heck. Is it any more of a gamble than what else has been done of late?
* Full disclosure: I have been brought on board here. Less than a week in, so I'm not exactly reading the company script or know it by heart. So ... let's see what happens. It's different. It's out of the norm of what has come down the pipe in the print world since the Internet boom. It ... might actually work? There are no guarantees, as my last two stops at prominent places have proved, so the "gamble" isn't ginormous (in my eyes).