Freedom Newspapers Files Bankruptcy!

[TooFarTampa]

I hope business picks up for them. Tom McLaughlin, Dusty Rickets and a few others at the Northwest Florida Daily Newspaper have written some very good investigative articles lately, such as legislative happenings and airport developments, that do affect us locally. Last Sunday's paper was great. Even with the internet, there is still a need for both the daily newspaper and the local weekly, imho.

All newspapers now understand that they won't survive without good local news. It's the free market at work and it will make some of them better.

 

[Matt J]

Freedom Newpapers to file bankruptcy

Couldn't find this anywhere else, but surprised no one brought it up.

Newspaper publisher Freedom files for Chapter 11


By MICHAEL LIEDTKE

AP Business Writer

SAN FRANCISCO -- The company that owns The Orange County Register in California and dozens of other newspapers on Tuesday became the latest publisher to seek bankruptcy protection, driven into financial despair by a staggering drop in advertising revenue.
The filing by Freedom Communications Holdings Inc. was part of a prepackaged plan approved by a majority of the company's lenders.
The consensus on the proposed restructuring should minimize the haggling that can bog down bankruptcy proceedings, although the plan is still expected to take at least four months to gain court approval.
"Reaching this agreement with our lenders provides us with an orderly process to realign our balance sheet with the realities of today's media environment," said Burl Osborne, a newspaper industry veteran who became Freedom's chief executive two months ago.
Under the proposed restructuring, Osborne said the family and two investment firms that own Freedom would be left with no more than a 2 percent stake in the company. The rest of the stock would go to a group of 27 lenders owed nearly $771 million. The lenders, led by JPMorgan Chase & Co., would forgive most of that debt in return for control of the company.

Newspaper publisher Freedom files for Chapter 11 - Florida AP - MiamiHerald.com

My question is why a Libertarian newspaper is running to the government for protection?

 

[Lynnie]

I don't look at a newspaper most days, but I enjoy reading the real paper about once a week. not that I get my news from many other sources - besides SoWal, now and then I'll look at news online, a bit from NPR here and there when in my car.. and a tiny bit from CNN. enough news for me.

but I honestly hope print is not really dead. Print is just so ingrained/traditional/always there when we need it. it will be very a strange world if/when it disappears.

Granny's hometown newspaper is only out once a week.....I think on Thursday. And, it catches you up on everything you need to know about from who visited whom on Sunday after church, whether or not sweet tea was served and if there were cloth or paper doilies. Sales were printed as well as engagements. One wedding took up one entire page.
Granny would take the Savannah Morning News to get a broader pic of the Obits.

I pick up the Sunday paper about every eight weeks here......just not as good as it used to be and it's always been to the left.

 

[Miss Critter]

If anyone from NWF Daily News reads this, PLEASE, PLEASE, PLEASE get a real sports section!! With all the SEC and other conference fanatics in the area, it's hard to believe there is virtually NO coverage of sports in the paper.

 

[wrobert]

Couldn't find this anywhere else, but surprised no one brought it up.



Newspaper publisher Freedom files for Chapter 11 - Florida AP - MiamiHerald.com

My question is why a Libertarian newspaper is running to the government for protection?

Hypocrisy abounds.