Friday, December 5, 2008

The Miami Herald Is Said to Be for Sale

The McClatchy Company, burdened by debt and a steep slide in newspaper advertising, wants to sell one of its most-prized properties, The Miami Herald, according to people briefed on the company’s plans.

McClatchy, the nation’s third-largest newspaper chain, has approached potential buyers for The Herald, said these people, who asked for anonymity because they were not authorized to discuss the issue. But they said they knew of no serious offers for the paper, reflecting the evaporation of major investors’ interest in buying newspapers. [Click for MORE]

  • FOR SALE: Newspaper. Runs good. Driven daily and Sunday for decades. Leans slightly to the left. Fully loaded: includes presses, delivery trucks, journalists, newsprint reels, many working news boxes. Has fresh coat of layoffs. Needs some work: cost-cutting, redesign, updated Web strategy. Offers buyer a unique chance to be a local big cheese. Seller is highly motivated–will take best offer. [Click for MORE]
  • OVERHEARD: Preparing for the worst? There is talk that Tribune Co.'s lending syndicate has hired FTI Consulting as financial pressures build at the owner of the Los Angeles Times and Chicago Tribune. [Click for MORE]

> Internal Post memo suggests Rocky to close
> Singleton: Rocky sale not going to happen
> Rocky Mountain News 'sale' shows peril of crossing profit line
> Newsday cutting 100 jobs -- 5% of staff -- and raising price
> 25 more jobs cut at Star Tribune
> Honolulu Advertiser sheds more than 50 staffers
> Three Baltimore Sun staffers laid off; another 12 leave voluntarily
> Elsewhere: AT&T to cut 12,000 jobs as landline losses grow Sphere: Related Content

No comments: