Thursday, May 09, 2019

DEAD-TREE DEMISE!!! McCLATCHY STOCK FALTERS WHILST KANSAS CITY STAR PRINTING PLANT SELLING AT LOSS!!!



At then end of business, stock in the Kansas City Star's parent company is valued at less than three bucks.

It gets worse . . .

THE KANSAS CITY STAR COULD SOON BE JUST ANOTHER DOWNTOWN RENTER!!!

A few of our readers remember recent reporting back in March noting that the printing facility and KC Star officers are also up for sale.

KCTV5: The 424,000-square-foot building located at 1601 McGee St., which also also houses its newsroom and business offices, is listed for $31 million.

A few of our readers note that JimmyC has a far too wordy take on the old news topic which seems just a bit jelly of his former colleagues who still have a job. Again "news" of the sale was hinted two months ago.

The only relevant info from today's bad news conference call noted here more succinctly:

- McClatchy reports a net loss of $42 million for the first three months of 2019.

- Internets won't save McClatchy: Digital-only advertising revenue was down — down by 5.2 percent against the first quarter of 2018.

- Total advertising revenue was $85.2 million, down 14.7% compared to the first quarter of 2018.

However, here at TKC the only thing we subscribe to is the tech analysis school of biz gawking i.e. the only thing you need to know about a company is its stock price.

Right now the fortunes of the Kansas City Star are plummeting and hedge funds are looking to pick its parent company apart.

 And so . . .

THE LAST HOPE OF THE KANSAS CITY STAR & McCLATCHY REMAINS PRICEY AND WORTHLESS DIGITAL SUBSCRIPTIONS!!!

The buy-in is really more of a donation but we've all got to hustle in our own way.

A few scam artists reporters have tried to distance themselves from the financial drama but without the debt structure and support that corporate ownership provides, The Star wouldn't even be a decent shopper throwaway.

In the final analysis and with much more effectiveness than social media  rhetoric. The market has decided that newspapers no longer hold much value.

Developing . . .

29 comments:

Anonymous said...

Don't knock it. Makes for great bird cage liner.

Anonymous said...

Fish wrap.

Anonymous said...

Litter box filler.

Anonymous said...

$50 says whoever buys it gets a big TIF in the future.

Reality Speaker said...

Spread under bike during oil/filter changes.

Anonymous said...

The Star will be closed within two years. The print operation will shut down with very little notice, and everyone will act shocked and surprised. The company will then attempt to market a grossly overpriced "digital only" scam, but that will fail too.

There's good opportunity here for online wildcatters and cyberjournalists who have experience in digital advertising

chuck said...

The insanity that runs rampant at the local paper of record is on a mitochondrial level.

Even now, as the business burns to the ground, it could be saved and become a useful vehicle for information to subscribers.

The bias, is virulent and hostile to all people who are not Progressive. The insults and venomous invective directed at those whose politics are not in lock step with Democratic Socialism and the Progressive narrative dictate a reduction in possible customers by 40%. An even handed opinion section from both sides of the aisle with respect to issues, would probably STILL save the paper.

An advertising campaign that stressed objectivity and an even handed discussion of politics and events here in the city, would increase subscriptions dramatically.

Fire the idiots who have run this paper into the ground and hire someone who sees the citizens, all citizens here in the city as potential customers, that you DON'T want to piss off.

I could fuckin do it in 12 months.

I guarantee it.

I take it back, I could do it in 6 months with total control.

It is what it is.

The Hipsterocracy, drunk on craft beer said...

Sold! To the lowest bidder!

Kristina said...

The leftist echo chamber is collapsing in on itself. And I am enjoying the show.

Deplorables of Flyoverland said...

Someone will snatch it up for pennies on the dollar. Then big for tax incentives.

Deplorables of Flyoverland said...

"beg for Tax Incentives" sorry

Anonymous said...

I said it 10 years ago and I'll say it again they'll become a 3-4 day paper. McClatchy's already done it in Detroit.

Anonymous said...

Just more and more of the marvelous downtown KCMO momentum!
What the Star needs is to bring back Hoops and have her and Sanchez write an endless loop about white privilege, misogyny, toxic masculinity, racism, intersectionality, homophobia, Islamaphobia, and all the other terrible things that are crushing their groupie readers each and every day.
And include a list of victims along with yet another regurgitation of how Hillary actually won the last election and all the rules need to be changed, because that's the only reason she actually lost.
And if that doesn't work, ho about just try to gather some facts and actually print the news?
Worth a try.
But WAY TOO LATE.

Anonymous said...

The paper is (was) the recipient of eight Pulitzer Prizes.


That was before AOL

Anonymous said...

Then the blogging fad came and that was the beginning of the end of journalistic integrity.

Anonymous said...

Then came Facebook and Twitter and news you could trust and count on passed away. An untimely death if there ever was one.

Anonymous said...

Ah anyone else remember when you could get a big fat informative, fun, and interesting KC Star for 25 Cents?

Anonymous said...

I blame gopher boi aka “Baghdad bob” no newspaper could follow or compete with that kind of stupidity! Hahahahaha!

Anonymous said...

Sure do 7:56. And the paper guy had a arm like Magic Johnson. Could hit the front steps right outside the door from the truck like a pro. This was before the general populace, the current generations had an attention span of one microsecond.

One Microsecond Attention Span said...

STFU!

Anonymous said...

Ah yes Hearne's gossip column. The good ol' days.

Anonymous said...

^^^^^^^^That slandous shit he wrote would get him sued and jailed now days.

Its over KC Star no one gives a shit what you have to say anymore said...

I havent bought a KC Star newspaper in over 10 years who reads paper anything anymore?. And if you see any where they still sell them they only put like 5-10 papers in the rack, only old people who cant change their ways buys that waste of money these days. And not just a waste of money on the paper but for sure a waste of money on the content!!!

Anonymous said...

^^^ +1000 on 11:35. People don't need the newspaper. No longer a resource.

Oh, well, Occasional-Cortex wants us to save trees. Coupon clipping is going APP happy! said...

Uh oh, the Sunday edition selling for only $1 at select Dollar Tree (KCK) stores is probably going away soon.

Anonymous said...

Not sure who Jimmy C is or even what a Pulitzer means to anyone anymore.
Even if the newspaper (think how archaic that word is) won 3 a year every year... not many would care.
Relevance is everything and the Star doesn’t have it.
Had they dissolved the editorial board 3 years ago- they would have more readers as you tend to not subscribe when something you pay for alienates you.
Tradition is pride. Pride has doomed many businesses.
In 3 years when people look back- they will see many lost opportunities.
The biggest one is bad leadership with zero new ideas...that worked.
Yet they continued to hire editorial board people.
And alienate.
Diversity by opinion is wrong... and consumers proved it.

Anonymous said...

Literally no one likes the star. They're fucked

Anonymous said...

OK. But what is an AOL? Is that kind of like AWOL?

Anonymous said...

No one reads the KC Star because there is nothing useful in it. But the Wall Street Journal is still going strong. I still subscribe to the print edition and also read it in digital form as well. The Star's content is junk so it became a junk paper.