Wednesday, December 10, 2008

Is the News & Observer on the market, too?

John in Carolina takes a look at whether McClatchy would like to sell the News & Observer, in addition to its reported interest in selling the Miami Herald:

Based on what people familiar with the newspaper business and McClatchy’s grave financial situation, including its immediate need for money to service its $2 billion in debt, have told me: All McClatchy’s newspaper properties, including the Raleigh News & Observer, are effectively for sale. McClatchy, like some other newspaper companies, is at the point of “No reasonable offer refused. But hurry!”

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5 comments:

Anonymous said...

If they are really serious about selling these properties, they need to list them on Craigslist.

McClatchy Watch said...

Heh

Anonymous said...

Craigslist wouldn't even sell them. Not when they have 1.1 billion coming due within 3 years. Easier to simply wait for Chapter 7, because it is coming. You can cook the books until you turn green, but a 20% profit margin means absolutely nothing when your gross revenues are dropping by 100's of millions at a stretch and your interest payments alone are eating over 50% of every nickel you bring in.

Anonymous said...

I logged a post here this morning that was in the KC Star this morning that MClatchy 3rd Quarter has a 20% profit. How can that be?

nick said...

craiglist kill mcclatchy newspapers and all newspapers in usa