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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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:
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4 comments:
If they are really serious about selling these properties, they need to list them on Craigslist.
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.
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?
craiglist kill mcclatchy newspapers and all newspapers in usa
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