Obligatory:
Posted on 05/04/2008 4:27:18 PM PDT by ButThreeLeftsDo
An article in the New York Post Sunday reported the Star Tribune is on the ‘brink of bankruptcy.’
The newspaper recently hired a company to restructure its balance sheet after failing to meet debt obligations, the article reports.
In a statement from the Star Tribune in response to the New York Post article, Chris Harte, the newspaper’s publisher said, "The facts are that the Star Tribune currently has sufficient liquidity and is current on all its debt payment obligations."
Hart said while it is true that the newspaper faces declining ad revenue, they have been working aggressively to get their cost structure in line with current revenue shortfalls.
"We recently hired the Blackstone Group to help us evaluate alternatives to our current capital structure, but that hardly merits a conclusion that we are near bankruptcy," the statement said. "In fact, Blackstone has substantial expertise in balance sheet restructurings through means other than statutory proceedings like bankruptcy."
Last week, the Star Tribune reported that its weekday circulation dropped more than six percent.
Ping.
I notice he's (or she - you can't really tell from the name) careful to not deny the truth of the original report that they had failed to meet their debt obligations. That would strongly suggest that the NYPost story was true.
Another group of news people that “What to make (create) a difference”.
Good for wrapping doggie poop, and that’s all. Let it go under, and may scores more quickly follow it, down the dumper.
Couldn’t have happened to a nicer commie rag.
Obligatory:
I finally convinced my Mom to to stop subscribing. We’ll see how long she can survive without the crossword puzzles...
Thanks for the ping. We had posted a thread earlier today with the NY Post story. Good stuff!!
http://www.freerepublic.com/focus/f-news/2010977/posts
It will be interesting to see just how many local media outlets pile on with this story.
OHH ABB
Keep readin’.....
;-)
You would think that someone at the Trib would get the message that very few people in Minnesota want to read their left wing biased coverage.
Fire Nick Coleman for starts. Then don’t pay Garrison Keillor. That would be a good start. Then go through both the newsroom and the editorial page and fire anyone who has puffed more taxes as a solution to the State of Minnesota’s budget.
By then, you will fit the remaining staff in a double wide and can really coin some money.
My wife keeps up our subscription for the daily cross word puzzle. No amount of my screaming, crying or moaning makes any difference! I wonder how many others continue their subscription for the cross words.
The $64,000 question is if the Star Tribune were to stop publishing tonight, would anyone really care?
The home delivery folks would probably sit up and take notice.....
Circulation has been falling even since they've taken some steps to move toward the right. And, of course, conservative newspapers are struggling across the country, too.
It might be fun to pretend that liberal bias is killing print media, but that's not the reality. People are just not interested in reading a newspaper or getting in-depth coverage like they used to.
Of course, broadcast media are a bit different, with bias being a component of their slide, but even so, it's more than just that.
The many people who have jobs there would. Note that there are many good conservatives who work at newspapers, even ones with liberal bias.
The Red Star Over Minnesota is Setting
Liberal newspapers have been morally and intellectually bankrupt for years. Their finances are simply the last to go.
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