Wednesday, March 06, 2019

KANSAS CITY STAR PARENT COMPANY STOCK SUFFERS HARSH TIMES!!! MORE DEAD-TREE DOWNSIZING AHEAD!!!



Kansas City has about a dozen former newspaper columnists and reporters who troll around the local Internets and offer their opinions on JOURNALISM because they haven't managed to find a job doing anything more productive.

To be fair, there are at least two of them who pimp themselves out for developer & political cash - Proving that they're at least trying to hustle.

In the meantime, our community of media experts takes a view of the big picture. Here's a quick preview of tomorrow's conference call that will mean more downsizing for the local newspaper that's already mostly ignored . . .

"McClatchy earnings announcement released before the market opens on Thursday March 7th. Wednesday afternoon, MNI is sitting just above their 52-week low."

It gets worse . . . Their building is up for sale again:

KC Biz Journal: KC Star printing building is back on the market for $31M

Deets on the "sale that would include a triple net lease, meaning the Star would continue to pay property taxes, insurance and maintenance on the building, in addition to rent with built-in increases." Meaning that it's really more of a cry for help:

"It’s a 100 percent abatement on the property, but the Star makes annual payments in lieu of taxes totaling $303,538 a year to the taxing jurisdictions that are forgoing revenue as a result of the abatement.

"The move to sell the building comes on the heels of two dozen employees accepting buyouts that the paper's parent company offered its most senior employees, including Johnson County government and business development reporter Lynn Horsley, business reporter Mark Davis and political columnist and editorial writer Steve Kraske."

And now a quick overview of fading dead-tree media fortunes whilst the Facebook algorithm and Twitter creeps attempt to tell a minority of people how to vote whilst everybody else couldn't care less about politics and simply want to gawk at hottie booty on Instagram.

Check the links . . .

CJR: McClatchy upgrades CEO’s housing stipend to $35K a month amid buyouts

MNT: More Than 200 McClatchy Employees Take Buyouts; CEO Calls Efforts Good "for the Future of Our Republic"

Most Analysts Rate The Company A Hold: Watching the Charts on Shares of Mcclatchy Company (MNI)

Developing . . .

24 comments:

Anonymous said...

Take the money and run!

Anonymous said...

Liberal media is taking the hit for their “fake news”!

Anonymous said...

Some of the old reporter blogs are good. I'm a fan of some of the stuff that Jimmy C does even if most of his "reporting" is now just ranting about the old newspaper days. He seems melancholy about leaving most of the time.

Anonymous said...

^^^ +100

Johnston said...

There should be a good Conservative newspaper. That would get a lot more readers.

Anonymous said...

^^^ You F-ing moron. How are you reading this? I bet you're not waiting for the print edition. Whatever device you're using to read this blog probably has more of a future than print. It doesn't matter if it's conservative or liberal. It's about changes in technology.

Johnston said...

Happy Lent!

Anonymous said...

My employer paid for a digital edition for all staff. I declined. All of it's just old news an opinion that's available for free via Twitter anyway.

Anonymous said...

Triggered hot head.

Anonymous said...

love the star. Makes for great & much cheaper pee pads for my dog. Best local resource for nearly free paper out there. For news, the Wall Street Journal is much better.

Anonymous said...

TOP PHOTO -- TOP DOWN APPROACH

We like our girlfriends and sports cars the same way...TOPLESS!!!

Anonymous said...

Why not lay off the editorial board? They’re the stupid fuckers that ruined the Star.

Anonymous said...

^^^^^^^^^^ First good suggestion I've seen. Not a radical idea at all. They are drawing all of the salary and contributing very little.

Anonymous said...

These left wing pinkos are in the capitalistic stock market ? Take pulse, anyone with money is way, way right of your childish drivel.

Anonymous said...

When the executives at the top are grabbing everything they can get their hands on for themselves and the company is having asset sales to generate cash to pay operating expenses, the enterprise is not long for this world.
The folks who took buyouts made good decisions and now they all have to hope that the pensions will be handled appropriately by the bankruptcy courts.
Small market; out-of-town ownership; poor management; an obsessively "progressive" editorial board; elimination of seasoned reporters; increasing cost of a constantly deteriorating work product; internet news sources; loss of advertising revenue
The reality of progress and many many self-inflicted wounds.
The Star won't survive much longer.

Anonymous said...

Only geezers read or care about print media. Both are dying off everyday and that's a good thing. The vast majority of people in this city don't care about the Star. Their the smart ones.

Anonymous said...

^^^^^
In fact, they're smart enough to know the difference between "their" and "they're".

Zcott Vagner said...

We bailed out the bankers and finance firms 10 years ago why can't the taxpayers bail out the media conglomerates?

I'm So Slick and Internet Clever said...

What the hell is newspaper?

Anonymous said...

Old people....hilarious!

Anonymous said...

Don't read papers. I'm 76 and having a blast rockin' with my sexy 22 year girlfriend.

Papers are for losers

Hyperblogal said...

What would be good "for the Republic" is the breaking up of corporate monoliths that obviously don't know how to make money.

Anonymous said...

@8:40-but you're girlfriend isn't having a blast with you. She told me while I was fucking her. She's waiting for you to die like everyone else is.

Anonymous said...

Do they still publish that INK rag?