Status of Newspaper Publishers That Filed Ch. 11

• Star Tribune Holdings Corp.
• Tribune Co.
• Sun-Times Media Group Inc.
• Philadelphia Newspapers LLC
• Journal Register Co.
• Freedom Communications Holdings Inc
• Creative Loafing Inc.

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Will OC Register Move From Santa Ana to Times OC Building in Costa Mesa?

Is a "for sale" sign coming to the Orange County Register's Santa Ana complex?

​Not that long ago, the Orange County Register and Los Angeles Times were embroiled in a bitter circulation battle that resulted in huge resources being pumped into this region, competing "hyper-local" community papers popping up like weeds and both papers reaping the spoils of some of the highest advertising rates in the country.

My, how times have changed. With the daily print newspaper industry in major retreat mode, the Times has left only a skeleton crew at its Orange County headquarters on Sunflower Avenue in Costa Mesa. While owner Sam Zell has yet to carry through with a previously revealed desire to snatch up the Register--which just filed for Chapter 11 bankruptcy this week--the Times will soon be distributing the Register and they already jointly produce a weekly advertising supplement. [Click for MORE]

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Sun-Times Gets Offer of $5 Million

A Chicago investor offered $5 million to buy the publisher of the Chicago Sun-Times, in a deal that could keep the struggling tabloid in business.

Jim Tyree, chairman and chief executive of investment firm Mesirow Financial, is leading a group that pledged the sum for Sun-Times Media Group Inc. in a bankruptcy auction. Mr. Tyree's group will be the "stalking horse," or lead, bidder as the company solicits other offers. It valued its assets at $310 million as of Dec. 31.

Tyree also agreed to assume about $20 million in liabilities, Sun-Times Media Group said Tuesday. A bankruptcy court must approve the terms and outcome of the auction. [Click for MORE]

• Employees to also pay for Sun-Times sale

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Tampa Tribune Capitulates!

h/t Ed Padgett Sphere: Related Content

Hey Tampa, She Wants Her 75 Bucks

Are times so tough at the Media General's Tampa Tribune newspaper that they can rip off a freelance journalist?

h/t Ed Padgett

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Flames Threaten Communications Towerson Mt. Wilson in Los Angeles

ABC7's transmitter on Mount Wilson is being threatened by the Station Fire burning in the Angeles National Forest. If you receive ABC7 by cable or satellite, you should experience no disruption. If you receive ABC7 by off air antenna, you could lose our ABC7 signal. You will still be able to see Eyewitness News in its regular time slots and breaking news anytime streaming live on ABC7.com.

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The Station Fire is moving toward Mount Wilson and fire officials said they plan to do their best to prevent the massive blaze from destroying the 20-plus television transmission towers located there.

Los Angeles County Fire Department Capt. Mark Savage said a strike team and engines were in place and air tankers had laid down fire retardant on the mountain directly in front of the “huge communication location.”

“It's not a matter of if it impacts Mt. Wilson, it's a matter of when,” he said. “Unfortunately today it was so smoky that our tankers couldn't work anywhere near that area."

As of 5: 30 p.m. the fire was “just a couple fo hours away from Mt. Wilson,” Savage said.

“We've done a lot of work to slow the flames down, but some are predicting up to 300-foot flame lengths.”

The Mt. Wilson observatory was evacuated Saturday, leaving the historic and scientifically important facility in the hands of firefighters.

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Freedom, OC Register, Plan to File For Chapter 11

Freedom Communications Inc., the owner of the Orange County Register, is expected to declare bankruptcy this week, according to people familiar with the situation, the latest in a string of Chapter 11 filings in the battered newspaper business.

The company, majority owned for more than 70 years by the Hoiles family, has reached agreements with its lenders to restructure its debts, according to these people.

With annual revenue of about $700 million, Freedom owns the Register and more than 30 other daily papers and eight TV stations. Earnings before interest, taxes, depreciation and amortization -- a popular measurement for leveraged companies -- have declined about 75% over the past five years to about $50 million. [Click for MORE] Sphere: Related Content