U.S. newspaper group to file bankruptcy (publisher of 51 daily papers)

UPI ^ | Jan. 16, 2010 | UPI

[shineon]

What happened to the obligatory “Dinosaur Death Watch”?

[EveningStar]

Thanks for NOT putting the ignoramus Dinosaur Media Deathwatch commentary in the title.

[EveningStar]

See post #3. :)

[BipolarBob]

I like the Dinosaur Death watch myself. With that said, The Detroit News closing sort of makes that place like a black hole. With no information leaving.

[Zeneta]

Watch out for a Soros rescue.

51 daily newspapers has to be enticing to him.

[Zeneta]

Watch out for a Soros rescue.

51 daily newspapers has to be enticing to him.

[PhiKapMom]

The article says they are reorganizing not closing. This bankrupty is to dump some of their debt but they are not going out of business.

[almost done by half]

The only people making money on newspapers these days are lawyers!

[USS Alaska]

I like the Dinosaur Death watch myself. With that said, The Detroit News closing sort of makes that place like a black hole. With no information leaving.

You are bipolar but you should read the story.

No papers will close, this is just an equity for debt swap.

Creditors will take stock for debt and they have already agreed to the deal.

They probably think this is better than nothing.

[BipolarBob]

You are bipolar but you should read the story.

You are not the first to make this observation so I guess I should give it some credence.

[Extremely Extreme Extremist]

You are bipolar but you should read the story.

ROFL

[Cicero]

Well, perhaps this dinosaur isn’t dying yet. But it’s another signpost on the journey. I certainly have no objection to the Dynosaur Deathwatch label. After all, one object is to try to get through their impenitrable skulls. I don’t want newspapers to die. It would be better if they woke up and started reporting the NEWS again. But if they don’t wake up, they’ll certainly die.

[bert]

Paging ABB, Paging ABB...

[bert]

Did the paper you write for already fold?

[bert]

Did the paper you write for already fold?

[Reeses]

They probably think this is better than nothing.

A second bankruptcy is just a matter of time and the new equity holders will get nothing just like the old equity holders. They would be better off staying bond holders and going through liquidation if they want to get something. MBAs are taught how to take off and fly a business, but no one knows how to land. They always fly until there's no more fuel then crash straight down into the ground with no survivors.

[shineon]

[opentalk]

LOL!