Posted on 01/29/2009 7:58:45 PM PST by bilhosty
Morris Publishing Group LLC, the parent company of the Florida Times-Union, has hired a financial adviser that specializes in helping newspaper chains in or near bankruptcy.
Lazard Freres & Co. LLC will assist the company in evaluating its capital structure options, according to a press release issued by the company. Lazard Freres also works for the Tribune Co., the owner of the Los Angeles Times and the Chicago Tribune, among others, which filed for Chapter 11 bankruptcy protection in December, and the Journal Register Co. (NYSE: JRC), which owns the New Haven Register.
Morris Publishing, an affiliate of Augusta, Ga.-based Morris Communications Co. LLC, is a privately held media company. Morris Publishing owns and operates 13 daily and nondaily newspapers, city magazines and free community publications in the Southeast, Midwest, Southwest and Alaska. The company has struggled with declining advertising revenue for several years, resulting in layoffs and other cost-saving measures.
spare me the “dinosaur media”,
they just helped elect a president that’s destroying my country.
Quick! What’s the Lazard and Freres’ stock trading code?
I expect their stock will go up big in the next decade, LOL!
Morris has traditionally been very conservative. They are about as good as it gets in newspapers.
Are you referring to the Morris papers that endorsed McCain over Obama
the media in general.
i’m tired of “dinosaur media” hooray articles.
“...a financial adviser that specializes in helping newspaper chains in or near bankruptcy...”
Interesting that there are enough newspaper chains in or near bankruptcy that someone can profit from specializing in that area.
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