Landmark goes up for sale

Sad news coming out of Norfolk this evening. The Batten family is looking to cash out.

http://hamptonroads.com/2008/01/batten-family-looking-sell-landmark-communications

http://www.news-record.com/apps/pbcs.dll/article?AID=/20080102/NRSTAFF/337926087

I worked at a couple of landmark shops and have friends at many of the papers. I feel for folks in Roanoke, Greensboro, Norfolk, Maryland and elsewhere.

 

Damn.

Good luck to everyone there.

I'd be surprised if they don't hold onto The Weather Channel, though. That has to be a cash cow.

 

That's what surprised me about the V-P story, Wicked. It said the family was exploring a sale of everything, including the Weather channel.

 

I still don't see them selling it, unless they are fools and don't like a license to print money.

 

NYT says they could get $5 billion or more for the Weather Channel alone.

http://www.nytimes.com/2008/01/03/business/media/03weather.html?_r=2&ref=business&oref=slogin&oref=slogin

That could go make a whole bunch of $100 million gifts to UVa. Awfully tempting, I'm sure.

 

You've got to feel for the folks in Greensboro after what they went through a few months ago.

 

You can just smell Gannett itching to get into this area. If that's the case, the V-P goes straight into the tank. As it is right now, it's a pretty good product.

Hope it ends up in the right hands.

 

Oh now that be interesting. One of the most visually innovative papers in the world in the hands of Gannett. Let the good times roll.

 

I currently work for a Landmark paper, have been here about 10 months and recently posted asking what people knew of the company. Today there is a sick feeling in the news department and sports office with people asking, "Is this a big deal?" to saying, "I've been through it before and there is nothing like that kick in the groin feeling."

 

And the folks in Annapolis. Their paper was just bought by Landmark a few months back and now they have to go through this turmoil again.

 

There are five Pilot openings posted on journalismjobs.com, all posted the last week of 2007. You've got to think that people eager to apply for these jobs will be a heck of a lot more hesitant now.

 

Conference call in about 10 minutes. Big question everyone has is will the company be broken up or sold as one