Kansas City Star Parent Company McClatchy Stays Losing Amid Print Obsolescence

Because it's better to provide current info than opine about the glory days or lament newsroom gossip about old frenemies that's mostly useless to most readers . . . Here's the tragic money quote from the journalism watch dog which reminds us why the local dead tree media stopped covering politics. Take a look: "Wall Street values the company at a market capitalization of $135 million, That’s less than $5 million per paper in a collection of 29 titles in 28 cities including the Miami Herald, Kansas City Star and Charlotte Observer." All of the rest of the numbers are simply dressed up figures attempting to spin the fact that buying a print advertisement is a waste of time. Check it: McClatchy's stock continues to takes a pummeling

Comments

  1. Time to shut 'em down and stop wasting blog space.

    ReplyDelete
  2. And buying an add on this blog is obviously beyond contemplation.

    ReplyDelete
  3. The entire company of nearly 30 newspapers is worth $165 million today--and the Star spent $200 million to build that green monstrosity downtown a little more than a decade ago.

    Of course, the thieves in charge have issued themselves golden parachutes, and a lot of editorial talent is now flipping burgers.

    They truly deserved each other.

    ReplyDelete
  4. The BILLION dollar debt is sinking their ship and must be eliminated through a bankruptcy reorganization.

    Of course, when that step is taken the company involved usually is allowed to void employee retirement obligations. It's a killer for longtime employees.

    ReplyDelete

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