NEWS AND LINKS
Bought by
Denver-based media chain
As part of a $1 billion
newspaper transaction announced Wednesday, The Monterey County Herald
will be owned by MediaNews Group, the private Denver-based newspaper
chain run by Dean Singleton.
In a complex four-way deal
expected to be completed by midsummer, The Herald's ownership will
change, in an instant, from current owner Knight Ridder to the McClatchy
Co., then to the Hearst Corp. and, ultimately, MediaNews.
Singleton, who is
alternately viewed as a tight-fisted cost-slasher or a shrewd savior of
failing newspapers, will obtain the San Jose Mercury News, Contra Costa
Times an
d St. Paul (Minn.) Pioneer
Press along with The Herald.
LARRY PARSONS,
Monterey Herald
Herald sale comes at crucial time in
paper's history
The Monterey
County Herald remains in turmoil. The McClatchy Company announced last
month it would buy media giant Knight Ridder, then re-sell 12 of the 32
papers it'll acquire, including the Herald and San Jose Mercury News. As
McClatchy reviews bids from several groups interested in the 12 papers -
including three known offers for the Herald - many in Monterey County
worry about the paper's future. The Herald's new owner will take over a
publication struggling to balance an increased pressure for profits with
the county's high demand for local news. KAZU's Ben Adler reports on the
Herald's past, present and future.
KAZU story
Save the Herald
There may be
one way to rescue the Monterey Peninsula’s daily from the ravages of
Wall Street.
Monterey County Weekley
Suicide by a thousand
cuts
I don't so
much mind that newspapers are dying -- it's watching them commit suicide
that pisses me off.
Molly Ivins,
CNN
Hope in the Newsroom
Herald
employees’ futures are still uncertain in wake of McClatchy
Ryan Masters,
Monterey County Weekley
How clustering works at
ANG newspapers
Pooled
resources boost efficiency but eliminate competition
Now that the
MediaNews Group, owner of nine metro dailies surrounding San Francisco,
has bid for the San Jose Mercury News and Contra Costa Times,
it may be instructive to look at the practice of sharing reporters and
centralizing publishing known as clustering. Denver-based MediaNews is
one of the nation's leading practitioners of clustering – a way of
operating multiple newspapers in a region by sharing, as much as is
practical, the reporting, opinion, advertising, printing and
distribution functions. In essence, an owner treats its collection of
newspapers in a region more like one larger newspaper with editions
under separate nameplates "zoned" for various cities or counties than as
independent or competing papers.
John McManus,
Grade The News
Sherman’s March
How Naples,
Florida money manager Bruce S. Sherman muscled Knight Ridder—the
nation’s second-largest newspaper company—into putting itself up for
sale
Charles Layton,
Monterey County Weekley
Burkle plans to
bid for papers
Yucapia advisor and former
Philadelphia Inquirer publisher Bob Hall: "The advantage is, Yucaipa is
a very patient investor, as well as a private investor" without pressure
from public shareholders, said Hall. "The plan will probably be lower
margins than would otherwise be expected and an emphasis on long-term
growth."
Joseph Menn,
LA Times
A paper puts its case
on the web
Staff at the San Jose
Mercury News have launched a site aimed at finding a "news friendly"
owner for the much-honored masthead and other titles
Steve Rosenbush,
Business Week
Dean Singleton's likely
bid for Knight Ridder papers renews debate on his bottom-line strategy
When Denver
press baron William Dean Singleton bought the Long Beach Press-Telegram
just before Christmas in 1997, he gave everyone in the newsroom 15
minutes to re-interview for their jobs.
Joseph Menn,
L.A.Times
MediaNews: Mixed
reputation
While
Singleton could bid for all the papers Sacramento-based McClatchy is
selling, he is known to be especially interested in those in Northern
California....Among the papers up for sale, the Mercury News, Contra
Costa Times, the Monterey Herald.
The question for those communities is which Singleton would buy their
newspaper -- the one who is known as a fearsome cost-cutter, or the one
who lately has been acquiring larger newspapers and making them grow?
Pete Carey,
Mercury News
Yucaipa: Seeking
employee owners
What began
as a brainstorming session a few months ago between Mercury News
employees about how to save their newspaper has steamrolled into a
serious effort by the Newspaper Guild to purchase a dozen of Knight
Ridder's largest newspapers.
The plan to create an employee-owned newspaper company has won the
backing of one of California's richest and most powerful financiers, Ron
Burkle, founder and managing partner of Yucaipa Cos.
Chris O'Brien,
Mercury News
In
boomtown, but still stuck on a bubble
Yucaipa Companies, a buyout firm based in Los Angeles, is talking to
McClatchy about The Mercury News and the 11 other papers....Yucaipa's
hope is to buy the papers and then offer union members the opportunity
to transfer their qualified retirement plan account balances into a
stake in a newly created employee stock ownership plan company, which
would provide a number of tax advantages.
Damon Darlin,
New York Times
Newspapers
may have an angel
"Billionaire Burkle emerges as possible
buyer, union says. If Burkle's bid were accepted, the papers would be
run by a new company called ValuePlus Media that would offer employees a
chance to buy ownership stakes"
Carolyn Said,
San Francisco Chronicle
Whatever happens next
affects readers
"This is Silicon Valley,
the center of change, the edge of the cutting edge. This is the place to
figure out the newspaper of the future — an information device that will
rely on the Web, but still require the highest standards of journalism."
Mike
Cassidy,
Mercury News
Newspaper chain to be
dismantled
"MediaNews' CEO Dean
Singleton typically buys small or struggling papers and has a reputation
for cutting expenses rather than investing in news gathering, said Ben
Bagdikian, former dean of the journalism graduate school at UC Berkeley.
"He's a low-cost, high-profit operator."
Joseph Menn,
L.A. Times
The evolution of Dean
Singleton
"Who is the real Dean
Singleton? Is he a mass murderer of newspapers, or is he a man whose
hardheaded pragmatism has enabled him, in a difficult period for the
industry, to preserve many more newspaper jobs than he has eliminated?"
Columbia Journalism Review
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