Good analysis. The negative cash flow is the chicken bone in the throat. They’re almost done for. Notice how the deal to sell the Cubs hasn’t closed yet.
Soon - very soon - there simply won’t be any money in the till to buy paper and ink and pay the pressmen to roll the presses.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aJ7H3gHnWjS4
CBS Cut to Lowest Investment Grade by S&P on Ad Drops
http://www.independent.co.uk/news/media/online/andrew-keen-it-is-up-to-the-unwired-class-to-get-online-and-save-themselves-1699131.html
Andrew Keen: It is up to the unwired class to get online and save themselves