DFM bloodletting continues

That said, Alden has been trying to sell the remnants of DFM for a couple of years. It’s not like there are buyers lined up out the door.

 

Newspapers have been gutted so much, I don't even know how much of a tax break they would get if they "donated" the properties to a foundation.

 

This is a brutal blow to the Post. Jason is better dialed in than anyone when it comes to the ski industry and the outdoors business/sports corner of journalism, things, which, ya know, might matter to the Denver Post. And he's a great guy on top of that.

Of course, none of that matters even a little bit in this f-ed up business. He's just another name off the books.

 

"These are exciting times for readers of the Post ... "

 

Guess I'm just surprised a guy covering ski resorts for 20 years plus hasn't taken a PR gig.

 

Yeah, like this had a snowball's chance in hell of running, but ...
Read Message About Denver Post's "Vulture" Owner the Paper Won't Print

 

Not everyone would find PR fulfilling. Maybe he’s self aware.

 

I don’t think this is true. I believe their stated strategy is to hold on as long as it is profitable — which it still is — and then discard the remains either in a garage sale or by closing up shop entirely.

 

Ken Doctor says he has seen sale brochures put together for sellers. DFM has sold mot of their papers east of the Mississippi, particularly in Connecticut and Pennsylvania.

 

The tax benefit could be substantial. A paper can write off the original purchase price. McClatchy sold Minneapolis for 500 million after buying it for 1.5 billion. The stated reason was to get a 350 million dollar tax benefit.

That is the same reason the New York Times essentially gave away the Boston Globe. NYT paid 1.2 billion and sold it for 70 million. They needed the cash from the tax benefit. I don't think the company wanted to sell the Globe but felt it had to.

 

If the Times had held onto the Globe for a couple more years, they would’ve gotten more than $70 million just for the Globe’s land (16 acres IIRC). Property prices on that side of town have been growing at insane rates for years.