Bakersfield Californian sold

In more than a few cases, the generational growth was what led families to sell. Founder - founders' kids - founder's grandkids, you get to the founder's great-grandkids and their share doesn't seem like much of a birthright and you know it isn't going to be getting any bigger so you sell, move that windfall into something that is growing.

 

While that is true a great-grandchild is far less likely to be more likely to bail if the business is going to hell in a hand basket.

Look at the NFL which has been the most profitable major league since at least the NFL-AFL merger. Of those 26 teams I can think of ownership groups still active (Giants, Steelers, Lions, Chiefs, Titans, Cardinals, Packers and the Bears).

 

Bull. The established families abandoned their newspapers and devoted staffs just to make sure they still had a few million dollars to put in the bank. They had the fear the newspapers would be worth nothing in a few years and they were cashing in when they could. They absolutely knew the corporations would gut their newspapers and effectively end the business. All these egotistical three generation families gave up. Their "pride" in the family business was b.s. They knew what was going to happen when they sold to greedy Gannetts and Gatehouses. They knew the once proud newspaper would be ruined.

 

Yep. It's all their fault. Those dirty bastards. How dare them.

 

I'm a little surprised Doc is backing the evil family members who were just fine owning a newspaper during the boom years and were quick to jump ship rather than steady the ship. How could they have steadied the ship? Recognized an impending crisis in selling ads and figure ways to keep those advertisers aboard.

 

Because these families got into the business because.....they wanted to lose money. You going to blame Apple, Samsung etc. for making improved cell phones for ruining the business? These families should choose to lose their ass than sell and make money..You working 60 hours instead of 40 and whining on a message board instead of standing up to your boss is part of the problem in the biz. Sack up and quit blaming families who were smart and sold high.

 

They may have been smart to remain billionaires or millionaires in selling but please admit they were hypocrites. Acting like bastions of a noble profession when all they wanted was $$$ and as soon as the going looked a bit tough they forgot about their noble civic entities, the newpspaper and dumped them to the highest corporate bidder. Many of these newspaper publishers held high positions of influence and "respect" in their towns. By jumping overboard they showed their true colors - fakes.

 

But did the other generations ever come off as bastions? Not in my experience. But whatever. Don't let the large Gannett corporations off the hook...they don't have to run their company like idiots and lay everyone off. If they sold 12 years ago before the recession and were smart selling...hard to blame them.

 

Looks like the Canadian folks have picked up a few more California papers:

Lee Enterprises sells papers in Santa Maria, Hanford

Disclosure: The Santa Maria paper was the one I got downsized from last July as Lee continued gutting the local staffs.

Don't really know how much difference this makes or how good the new owners will be. Does anyone know how things have been at Bakersfield since that paper's sale?

The one thing is, the SM, Lompoc and Santa Ynez papers were being served by the Lee RDCs. I wonder whether the page design is going back in-house or if they're going to be supplied by another RDC.

 

Same thing happened in Hanford as well. Was let go in 2015 and it's been downsized to pieces. Think Napa is Lee's last paper in California.

Oh, and obligatory "what was Mary's cut" post.