Thursday, January 17, 2008

Rumor Alert! RumorAlert!

Sam Zell Wants to Buy the Daily News

Two days ago Joseph Mailander, from Mayor Sam’s Sister City, wrote: “A rumor we heard: Sam Zell wants to buy the Daily News. Every single person's response: "Oh, no!"

It is true Sam Zell and Dean Singleton have met, but from what I have been told, Dean Singleton is considering outsourcing his production from his Valencia Plant to the Los Angeles Times. The Valencia Plant produces the San Fernando Valley Daily News, and all the editions of the San Gabriel Valley Tribune.

With the extremely large debt the Tribune Company has to pay down, I cannot see Sam Zell buying any other properties at this time, but printing additional newspapers is an option that makes sense to increase cash flow in this competitive market. [Pressmen's Club]
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