Saturday, February 15, 2020

TKC SATURDAY NIGHT PLAYLIST!!! PROGRESSIVES FEAR HEDGE FUND FUTURE OWNER OF KANSAS CITY STAR!!!



A power shift in the newspaper industry is finally changing the status quo in this cowtown and what we've noticed is that the local progressive elite are terrified that their stranglehold over The Kansas City Star is now at a conclusion.

The progressive, some would say liberal, leaning of the publication is important if only because there remains some imagined "credibility" in the public consciousness regarding the printed word. Also, even most of our staunchest liberal friends will tacitly admit that "public radio" and "public TV" pandering is tantamount to nothing more than an echo chamber that most other non-affiliated denizens of the discourse easily tune out. Example: Only your classy granny likes or even knows about Downton Abbey.

More to the point . . .

For almost a generation the influence of The Kansas City Star has faded and now the newspaper's ability to dictate policy or start local conversations isn't any grater than the average social media influencer. A change in ownership might only serve to benefit locals given that the current management has presided over demise of the institution and made one bad decision after the next.

Our blog community has talked about this for years but here are more resources on the sitch:


Information Wants To Be Free

McClatchy's bankruptcy is another body blow to the journalism industry " Next up on the Geraldo Rivera 'Roadkill' podcast: An interview with President Trump - Poynter

Your Friday Poynter Report The Poynter Report is our daily media newsletter. To have it delivered to your inbox Monday-Friday, click here. It's not as if we should be surprised by Thursday's news that McClatchy filed for bankruptcy. Poynter business analyst Rick Edmonds and others have seen warning signs about McClatchy for a while.


Jersey Boys Coming Soon

N.J. hedge fund that owns National Enquirer to take control of McClatchy newspapers, reports say

A New Jersey-based hedge fund manager, whose ownership of the National Enquirer landed it in hot water with New Jersey pension fund officials, may soon control one of the country's largest newspaper chains.


Hedging News Bets

Financial Engineers Ravage American Newspapers-McClatchy's Turn

Friday's news reports played the story as McClatchy filing for bankruptcy. But that's not the deeper story. The venerable chain, publisher of The Sacramento Bee, Miami Herald, and 28 other papers, is doing a deal with a hedge fund, Chatham Asset Management, which also owns supermarket tabloids.


End Of Era

McClatchy family empire is ending. Legacy lasted from Gold Rush, to fortune, to bankruptcy

James McClatchy helped launch The Daily Bee in Sacramento in 1857, and he and his family led the company for 163 years. Sacramento Bee file The McClatchy family dominated the Sacramento landscape for decades, publishing its leading newspaper while shaping the history and culture of the city.


In The Company Of MAGA

Hedge Fund Behind Trump's Favorite Tabloid To Own McClatchy

McClatchy Co., the owner of the Miami Herald, Kansas City Star and other newspapers, has become the latest casualty of the collapsing industry to fall into hands of an investment firm.


And so . . .

Because journalism navel-gazing is the favorite topic of so many unemployed newsies and this not-so-hostile takeover doesn't really sound so bad given that the company in question has a much better track record than local "experts" who remain out of work . . . We ask our blog community . . .

WILL RIGHT-WING MAGA FRIENDLY HEDGE FUND NEWSPAPER OWNERSHIP HURT OR HELP KANSAS CITY???

It'll be surprising how few people really notice the difference or turn away from their mobile devices to pick up a newspaper.

Meanwhile, the new social media model of pay-for-play in every endeavor from food to opinion journalism turns all the real power over to tech giants in Silicon Valley who mostly let a money-driven algorithm dictate what the public will witness.

And all of this inspires tonight's TKC playlist featuring old-school songs about life's changes . . .



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

24 comments:

Anonymous said...

I wouldn't call it an "institution" it's really just another business dedicated to selling advertising for furniture stores.

Real KC Voter said...

True that.

Anonymous said...

We need to crowd fund to hire a few of them at TKC.

Anonymous said...

McClatchy family will be fine. Vacationing occasionally with Bill Gates on his new mega yacht and stuff.

As far as the lemmings, it's off the cliff.

Anonymous said...

The Daily Mail KCMO

Anonymous said...

Not being $700 million on debt will free them up for other stuff, so, help.

Maybe Mike Fannin can get a new frame for Tony's rejected employment application.

Anonymous said...

But... my pension?????

Anonymous said...

The new owners really do too much damage to the Star.
There's not much left to suck out of the husk that's left.
All the experienced higher-priced journalists are long gone and the newbie J-school grads mostly "report" press releases and still don't know the difference between Mission Hills and Gladstone.
And the last Star "management" left it in such disrepair that they sold their on building and now operate out of the printing facility.
It's pretty hard to do harm to a corpse.

Anonymous said...

SCRATCHING THE SURFACE

I'm rather disappointed that so many people fail to look beneath the thin veneer of the surface headline.

So, the assumption being made by nearly all is that the McClatchy family gave up control to Chatham Asset Management and walked away. The reader is left to assume that Chatham is a hedge fund shrouded in secrecy and focused squarely on squeezing every dollar from their asset.

Yes, Chatham is managed from New Jersey, but the legal entity which built up a controlling stake in McClatchy shares is an offshore Cayman Islands shell. And who actually has an ownership interest in the fund which swallowed McClatchy? Well, they're not legally required to disclose that information, but would you be surprised to learn that McClatchy family members and a company executive are share-owners in the hedge fund?

If you don't now realize that this was an engineered deal, to put the company into bankruptcy, discharge the pension obligations, shaft the employees, renege on as much outstanding debt as possible, then you only read the superficial headlines and fail to understand reality.

Anonymous said...

Who gives a FUCK ? The KC Star has been a joke for years. Not even worthy of a Missouri Hillbilly to wipe their ass. Certainly not to wrap your BBQ with.

Anonymous said...

Going to be lots of fun watching the clowns who slammed the Star all these years falling over themselves to praise it as soon as it starts kissing Trump's flabby ass!

Anonymous said...

^^^^

+100

Anonymous said...

Less expensive than puppy pads. I'll buy the Sunday edition.

Anonymous said...

8:52 what’s a matter soy boi, you scared we might get a real newspaper that’ll tell the truth about the murderous and violent crooked lying sack of shit dimwits?

I’d be worried if I was you.

chuck said...

Interesting comment from 8:50

Anonymous said...

Gee, Tony, word got out Friday the whole thing may collapse over a possible fraud and you didn't even notice?

Goddamn, you're dumb. I mean, really fucking stupid. Your obsession with partisan bickering had you driving past the real news.

Grumps said...

^^^^^ he noticed, he don't care. Meanwhile , you're a douche TRYING to correct a blog on a Saturday night. Good luck Jed, Im going to drinl 7 more beers and wait for your reply. Make it good biscuit eater.

Anonymous said...

"he noticed"

So, are you a mind reader? Or is your cock up Tony's ass? Gotta be one or the other.

Anonymous said...

Nobody reads the star anymore, few people care what the heck happens to it. Let it burn.

Anonymous said...

From
https://hotair.com/archives/ed-morrissey/2018/07/24/mcclatchy-mccaskills-husband-scored-131-million-federal-housing-contracts/

“Businesses tied to U.S. Sen. Claire McCaskill’s husband have been awarded more than $131 million in federal subsidies since the Missouri Democrat took office in 2007, an analysis by The Kansas City Star found.”

As reported on TKC Claire has a home/business in the Caymans and a private plane. It is about a 7 hour flight from Chesterfield airport to the Grand Cayman airport which probably is an easy flight for Claire and her husband’s single engine million dollar turbo prop plane.

Just follow the money.

Anonymous said...

How were the biscuits?

Anonymous said...

8:40pm :

Truth.

Anonymous said...

The Thrifty Nickel now the newspaper of record in KC?

Anonymous said...

it would be good for kansas city to have an evolved version of the star, imho.

hope they can figure something out.