Saturday, September 14, 2019

THE TKC SATURDAY NIGHT PLAYLIST!!! DEAD-TREE DEMISE: KANSAS CITY STAR PARENT COMPANY STOCK FAIL PERSISTS!!!



The long goodnight of a newspaper company that owns KC's daily rag is our focus tonight.

Here's the sitch . . .

The McClatchy Co., parent of The Kansas City Star and 29 other newspapers, said Friday it’s facing possible delisting by its stock exchange, NYSE American.

Sacramento-based McClatchy said it received a warning letter Monday from the exchange, saying the company’s finances had fallen below the exchange’s minimum standards. McClatchy said the exchange cited the company’s losses in each of the past four years and its “stockholders’ deficit” of $372.5 million as of June 30. A stockholders’ deficit means the company’s liabilities exceed its assets.

Also, the company’s market value, as defined by NYSE American, falls below the $15 million minimum ...

Check the links . . .

SacBee: McClatchy could lose stock exchange listing

Yahoo: McClatchy Receives Notice From NYSE

Biz Journal: McClatchy's losses, debt put its stock exchange listing at risk

Like it or not, we're in the last days of newspaper and it looks like neither non-profit efforts nor political (read: taxpayer) cash is going to keep the money-losing biz afloat.

As always, this inspires our playlist tonight . . .



As always, thanks for reading this week and have a safe and fun Saturday night.

13 comments:

Anonymous said...

It was fun while it lasted.

Anonymous said...

Fuck the star they’re nothing but a bunch of lying commies flush them down the toilet

chuck said...

The city will keep bailing the out.

Somehow, some way, the Democrats in City Hall will keep it afloat in order to continue promoting the Progressive Narrative.

H.N. said...

Have to totally disagree isagree about the non profit route. That's the only real avenue where the paper might be able to hang on or a new one could rise. A vibrant newspaper is part of the public interest and it should belong to the community that it represents.

Anonymous said...

I guess this means more crap in my fb feed from bored reporters or the TV news reporting car accidents. Too bad.

Anonymous said...

They should start a blog.

Bwahahahahahhahahaahaha!

Anonymous said...

Good Riddance.

Anonymous said...

The Star is both a credit risk and credibility risk. It’s lived well past its useful life. The average age of the folks who read it... 75.

Anonymous said...

The Star was stupid enough to screw over its advertisers. Good riddance.

Anonymous said...

Hopefully the beginning of the end for a bunch of progressive weenies clearly peddling their narrative and trying to pass it off as news. Everything in that rag is editorialized - wouldn't wrap fish in it.

Anonymous said...

The inevitable death of The Star - which traffics only in opinion and leftward agendas - can't come soon enough. The handful of arrogant "journalists" remaining on staff can go work for public radio or take PR jobs with any number of Democratic campaigns.

Elderly subscribers - who are charged a fortune for middle-school quality writing and a pack of never-ending lies - can save a few bucks and/or afford a better brand of cat food

Anonymous said...

The only solution is to hire more brainiacs on the editorial staff.
They can write more opinions and further divide readers and cause more cancellations.
Then more people can short their stock and get rich.

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