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Technological change is destroying the daily newspapers in America
HeadSet saysYep. I loved buying local newspapers when I traveled to towns and cities, even the rural papers.
I used to love reading The Land on that weird green paper in Australia. Ballsy reporters.
If there would be an anti-NYT, I would subscribe to it!!! I would like to sit in yard of my house on Sunday morning and read newspaper while drinking morning tea.
But intelligent journalism does not exist, so no subscriptions.
Ok, is it only me who thinks that Bloomie should shut down Bloomberg if he is seriously gonna run? OR at least put it into the control of a blind trust? I mean, EVERY thing it prints will be scrutinized as a reflection on him and vis versa. Not good.NYT and WaPo are blatently anti-Trump and pro-everything-not-Trump, too. At least Bloomberg "news" will be more up front about their motivation.
The Chapter 11 filing will allow McClatchy to restructure its debts and, it hopes, shed much of its pension obligations. Under a plan outlined in its filing to a federal bankruptcy court, about 60 percent of its debt would be eliminated as the news organization tries to reposition for a digital future.
The likely new owners, if the court accepts the plan, would be led by hedge fund Chatham Asset Management LLC. They would operate McClatchy as a privately held company. More than 7 million shares of both publicly available and protected family-owned stock would be canceled.
“While this is obviously a sad milestone after 163 years of family control, McClatchy remains a strong operating company and committed to essential local news and information,” said Kevin McClatchy, chairman of the company that has carried his family name since the days of the California Gold Rush. “While we tried hard to avoid this step, there’s no question that the scale of our 75-year-old pension plan – with 10 pensioners for every single active employee – is a reflection of another economic era.”
Read more here: https://www.mcclatchydc.com/news/nation-world/national/article240139933.html#storylink=cpy