Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Newsweek Deadline Draws Near (Chris Ruddy may bid - Dinosaur Media DeathWatch™)
The Wall Street Journal ^ | May 29, 2010 | Russell Adams

Posted on 05/30/2010 6:02:57 AM PDT by abb

A private-equity firm and a publisher of a right-wing magazine are among prospective buyers expected to enter the first round of bidding for Newsweek magazine.

OpenGate Capital, the investment firm that owns TV Guide, plans to formally declare its interest in acquiring Newsweek before Wednesday's deadline for nonbinding bids, according to managing partner Andrew Nikou. Christopher Ruddy, publisher of the conservative monthly magazine Newsmax, said he also plans to bid.

Thomson Reuters Corp. is unlikely to submit a letter of interest by next week's deadline, but the financial news and information company could partner on a bid later in the process, according to a person familiar with the company's thinking. Media mogul Haim Saban initially expressed an interest, but it is unclear if he will enter the fray. A spokesperson for Mr. Saban declined to comment.

Meanwhile, Bloomberg LP, Fast Company publisher Mansueto Ventures and Mort Zuckerman, owner of U.S. News & World Report, all said they are not interested.

Newsweek owner Washington Post Co. recently said it would try to sell the unprofitable magazine and hired Allen & Co. to shop it. The investment bank has circulated a summary of Newsweek and details about the bidding process, which requires prospective buyers to submit a purchase price and financing plan by 5 p.m. EDT Wednesday.

Post Co. indicated in the summary sent to potential buyers that the company would assume all long-term employee-related liabilities, including pension and retirement obligations, as of the sale date. It also indicated in the summary it will assume "certain" severance obligations. A person familiar with the matter said Post Co. has offered to cover severance costs for up to 200 Newsweek employees not retained by the new owner. Newsweek has 379 full-time-equivalent employees.

snip

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: advertising; dbm; magazines; newsweek
Navigation: use the links below to view more comments.
first 1-5051-71 next last
It has a negative net worth.
1 posted on 05/30/2010 6:02:57 AM PDT by abb
[ Post Reply | Private Reply | View Replies]

To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; backhoe; Bahbah; bert; bilhosty; Caipirabob; ...

ping


2 posted on 05/30/2010 6:05:47 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Good move by Ruddy. He’ll get a bunch of Newsmax stories out of how the Obama admin blocked his purchase of the magazine.


3 posted on 05/30/2010 6:05:55 AM PDT by Joe 6-pack (Que me amat, amet et canem meum)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

If Chris Ruddy buys it, will it still be “dinosaur media”?

And Media is not dead ... it’s merely morphing [for those who are cheering].


4 posted on 05/30/2010 6:06:07 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Joe 6-pack

Wow! Did not know this. Do you have a link?


5 posted on 05/30/2010 6:06:57 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 3 | View Replies]

To: abb

Rush should just buy it and turn it into the PREMIER Conservative magazine in the World.

Rush H. Limbaugh - Publisher and Editor in Chief
Bo Snerdly - Black Enough to Criticize “The One” VP!


6 posted on 05/30/2010 6:09:11 AM PDT by GRRRRR (He'll NEVER be my President, FUBO!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

http://www.businessweek.com/news/2010-05-29/newsweek-magazine-losing-money-since-2007-draws-possible-bids.html
Newsweek Magazine, Losing Money Since 2007, Draws Possible Bids

http://www.niemanlab.org/2010/05/publish2s-ryan-sholin-we-did-not-set-out-to-kill-the-associated-press/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+NiemanJournalismLab+%28Nieman+Journalism+Lab%29
Publish2’s Ryan Sholin: “We did not set out to kill the Associated Press”

http://news.yahoo.com/s/ynews/ynews_pl2312
Critiquing the D.C. echo chamber from within

http://www.kitv.com/news/23705740/detail.html
Newspaper Unions File Grievance Over Severance

http://newsosaur.blogspot.com/
Newspapers now have lost half of core sales

http://www.editorsweblog.org/web_20/2010/05/study_says_citizen_journalism_not_yet_a.php
Study says: citizen ‘journalism’ not yet a threat

http://www.voiceofsandiego.org/this_just_in/article_19fe4fb8-6aa8-11df-824f-001cc4c002e0.html
More Staff Cuts Loom at Union-Tribune

http://www.news.ucdavis.edu/search/news_detail.lasso?id=9491
UC Davis study predicts newspapers will survive

http://www.winnipegfreepress.com/opinion/blogs/white/Digital-paper-has-arrived-94924699.html
Digital paper has arrived

http://www.vocus.com/invocus/blogMay10.html
A one-newspaper world: another community loses a voice


7 posted on 05/30/2010 6:14:44 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Joe 6-pack

Yes. Seems like a logical move for Ruddy. And the Newsweek banner.


8 posted on 05/30/2010 6:15:14 AM PDT by GVnana
[ Post Reply | Private Reply | To 3 | View Replies]

To: GRRRRR

http://www.youtube.com/watch?v=M1u9slsAHTc

Bo in action.


9 posted on 05/30/2010 6:15:27 AM PDT by 70th Division (I love my country but fear my government!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: abb


10 posted on 05/30/2010 6:15:40 AM PDT by Chode (American Hedonist *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BunnySlippers
"Wow! Did not know this. Do you have a link?"

LOL...they didn't try to bar the sale yet, but there's no way they'll let a conservative entity buy up one of their most outspoken allies and propaganda arms. It may not be done directly through gov't force, but more likely through their allies in the media.

It will be the kind of stuff that's perfect for Newsmax stories!

11 posted on 05/30/2010 6:21:17 AM PDT by Joe 6-pack (Que me amat, amet et canem meum)
[ Post Reply | Private Reply | To 5 | View Replies]

To: abb

Jim Robertson should buy it and call it NewsFreep.

Pray for America


12 posted on 05/30/2010 6:23:04 AM PDT by bray (No You Don't!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Whoever buys it in the end...ends up with a magazine that cannot sustain a profit. The only plus is that you have a dozen reporters who can appear on Sunday talk shows for MSNBC or CNN....and talk. Basically, you run a stable of horses who can’t run with real racehorses but they are happy to be just marginal horses.

In fact, I would even say this....I could open a new magazine called Newsweek II...with all college students (no one over the age of 24) and carry the same subscription level and profit margin. At least with my concept....I’d be paying out half the salary that they pay today, and I could actually say I’m making a profit.


13 posted on 05/30/2010 6:24:54 AM PDT by pepsionice
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

The offices will need to be disinfected, if not outright incinerated.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

14 posted on 05/30/2010 6:25:19 AM PDT by The Comedian (Evil can only succeed if good men don't point at it and laugh.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

The 4th estate is a 5th column.


15 posted on 05/30/2010 6:27:29 AM PDT by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Joe 6-pack

Why would Chris Ruddy buy Dinosaur Media? Does he want to lose money?

I think some Freepers don’t know that media is not dying.


16 posted on 05/30/2010 6:34:04 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 11 | View Replies]

To: abb

http://www.buzzmachine.com/2010/05/29/ftc-protects-journalisms-past/
FTC protects journalism’s past

http://www.ftc.gov/opp/workshops/news/jun15/docs/new-staff-discussion.pdf
POTENTIAL POLICY RECOMMENDATIONS TO SUPPORT
THE REINVENTION OF JOURNALISM

http://www.mediabistro.com/tvnewser/cnn/this_is_where_cnn_makes_its_money_162961.asp
This Is Where CNN Makes Its Money

http://www.editorandpublisher.com/Headlines/study-newspapers-need-greater-union-role-new-ownership-models-to-survive-61496-.aspx
Study: Newspapers Need Greater Union Role, New Ownership Models to Survive

http://www.smartmoney.com/news/ON/?story=ON-20100527-000696
Time Warner CEO Rules Out Sale Of Publishing Unit This Year

http://www.reuters.com/article/idUSTRE64R04G20100528
Wall Street debates fate of Disney’s ABC

http://www.pcworld.com/article/197395/ipad_to_rescue_media_from_pennypinching_web_surfers.html
IPad to Rescue Media From Penny-pinching Web Surfers?

http://timwindsor.com/2010/05/25/how-do-you-spell-chutzpah/
How do you spell chutzpah?

http://newspaperdeathwatch.com/
Fit to Print’ Filmmakers Forge Ahead

http://recoveringjournalist.typepad.com/recovering_journalist/
The Social Subscription


17 posted on 05/30/2010 6:40:47 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 7 | View Replies]

To: abb

Mr Ruddy, I’ll buy a subscription. ...go for it.


18 posted on 05/30/2010 6:49:08 AM PDT by TexasCajun
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Wouldn’t that be a total BOL for our side if Ruddy buys Newsweek?


19 posted on 05/30/2010 6:57:53 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Big Time “negative net worth”


20 posted on 05/30/2010 7:02:13 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave
Wouldn’t that be a total BOL for our side if Ruddy buys Newsweek?

I can just see the reaction of the NY Times - MoDo, Frank Rich, Kristof.

21 posted on 05/30/2010 7:03:12 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 19 | View Replies]

To: abb
A few years ago when the Philadelphia Daily News and Inquirer were both dying, a group led by a kinda-sorta conservative bought them, saving them from certain bankruptcy. But rather than being grateful to keep working, the staff went public with stuff like "they better not try to make us slant the news to the right!" Preferring ideological leftist purity to jobs, they forced him to sign something that said he would have no editorial input so they could go on being dedicated marxists. Both papers are now broke. So the strategy of buying a dieing paper and allowing the lefty staff to run it as it had before is proven to be a sure loser.

I submit that the Newsweek staff would certainly do the same thing, reacting with horror at the prospect of a news organization having to report anything... gasp! ... conservative. I would hope anyone who buys them says "buzz off, I'm not signing anything. In fact, go find another job. I bought it for the brand, not the staff of leftist jerks that ruined it in the first place."

22 posted on 05/30/2010 7:04:00 AM PDT by pepsi_junkie (Who is John Galt?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

“I can just see the reaction of the NY Times - MoDo, Frank Rich, Kristof.”

Their hysterical reactions would be better than any comedy show on TV.


23 posted on 05/30/2010 7:05:19 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: pepsi_junkie

“I submit that the Newsweek staff would certainly do the same thing, reacting with horror at the prospect of a news organization having to report anything... gasp! ... conservative. I would hope anyone who buys them says “buzz off, I’m not signing anything. In fact, go find another job. I bought it for the brand, not the staff of leftist jerks that ruined it in the first place.”

You are absolutely correct. If any conservative buys Newsweak, the NY Slimes, Compost or any dying fishwrap or magazine, the new owner/s should fire everyone the day they take over the dying organization.


24 posted on 05/30/2010 7:08:10 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: BunnySlippers
If Chris Ruddy buys it, will it still be “dinosaur media”?

Who knows? If they stop being anti-American and become pro-freedom, maybe people will start buying Newsweek.

25 posted on 05/30/2010 7:10:12 AM PDT by JimWayne
[ Post Reply | Private Reply | To 4 | View Replies]

To: stephenjohnbanker; Liz; SierraWasp; tubebender

“Big Time “negative net worth”

BofA and some of the local banks holding the mortgages on super McMansions in the wino country area after zero payments from the overextended former owners for 2-3 years, will be having fire sales on these properties.

They only want the original mortgage price plus any seconds, thirds and credit lines on each McMansion.

Would you be interested in buying a couple of these?


26 posted on 05/30/2010 7:12:47 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Grampa Dave

“They only want the original mortgage price plus any seconds, thirds and credit lines on each McMansion.

Would you be interested in buying a couple of these?”

Sure, if a current appraisal is for 3 million, I would offer them 1.5 ;-)


27 posted on 05/30/2010 7:15:02 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 26 | View Replies]

To: abb
Newsweek financials from the sale book:




28 posted on 05/30/2010 7:16:42 AM PDT by jimbo123
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave

“You are absolutely correct. If any conservative buys Newsweak, the NY Slimes, Compost or any dying fishwrap or magazine, the new owner/s should fire everyone the day they take over the dying organization.”

Even if they fired everybody, are there enough doctors & dentists to break even?

I think not ;-)


29 posted on 05/30/2010 7:17:42 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: abb
Newsweek employee headcount:


30 posted on 05/30/2010 7:19:10 AM PDT by jimbo123
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Newsweek has approximately 427 full-time employees as of Dec 31, 2009. If Bloomberg buys it, that might go down to 27

http://paidcontent.org/article/419-newsweek-by-some-really-crazy-numbers/


31 posted on 05/30/2010 7:22:49 AM PDT by jimbo123
[ Post Reply | Private Reply | To 1 | View Replies]

To: stephenjohnbanker

The doctors and dentists out here in Californicator land haven’t paid for a subscription to NewsWeak or Slime for a decade or two.


32 posted on 05/30/2010 7:23:32 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 29 | View Replies]

To: Grampa Dave

IIRC you are correct. Usually, Nat. Geographic, or U.S. News & World Report ;-)


33 posted on 05/30/2010 7:25:17 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 32 | View Replies]

To: jimbo123

It’s obvious that as a going concern, there is little hope. The only ‘value’ left is the brand, Newsweek - the accounting term is goodwill.

That’s always a swag number, anyway. Or has that been completely ruined?


34 posted on 05/30/2010 7:26:47 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 31 | View Replies]

To: JimWayne

I know industries shift and change to meet the marketplace. They always have and always will in a free economy. And it’s what I do doe a living.

That’s why I say that Freepers who allude to Dinosaur Media are illl informed.


35 posted on 05/30/2010 7:29:50 AM PDT by BunnySlippers (I LOVE BULL MARKETS . . .)
[ Post Reply | Private Reply | To 25 | View Replies]

To: stephenjohnbanker

Newsweak/Slime and others you mention are sent free to the doctors, dentists and other medical providers we know, and between my wife and I, that is a lot.

I’m sure that each of these medical providers, who get free copies are carried as subscribers. Most of the providers or their officed managers throw away the subscription reminders, and the worthless magazines keep on coming to their offices.


36 posted on 05/30/2010 7:34:31 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 33 | View Replies]

To: Grampa Dave

” Newsweak/Slime and others you mention are sent free to the doctors, dentists and other medical providers we know “

I wondered about that.

” I’m sure that each of these medical providers, who get free copies are carried as subscribers.”

” Cook the Books 2...the sequel “ ;-)


37 posted on 05/30/2010 7:40:31 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 36 | View Replies]

To: stephenjohnbanker

Free NY Slimes and San Fran Gay Chronicles show up daily at many of medical offices. The complex where my wife works, each morning has stacks of these unwanted papers piled up in the entrances closest to the driveway. The delivery people just drop them on the sidewalkd at the three entrances for the cicular driveway.

Each morning the maintenance people pick them up and throw them into one of the big blue recycle containers.


38 posted on 05/30/2010 7:50:57 AM PDT by Grampa Dave (ILLEGAL IMMIGRATION IS DESTROYING AMERICA-LOOK AT WHAT IT DID TO THE WHITE HOUSE!)
[ Post Reply | Private Reply | To 37 | View Replies]

To: BunnySlippers
"Why would Chris Ruddy buy Dinosaur Media?"

I don't think he wants to actually buy it; I think he wants to be muscled out of the bidding so he can report on it. JMHO.

39 posted on 05/30/2010 7:51:27 AM PDT by Joe 6-pack (Que me amat, amet et canem meum)
[ Post Reply | Private Reply | To 16 | View Replies]

To: abb

They’re pretty screwed. 90% of their revenue is through their print property. Either advertising or circulation revenue. Their online advertising is only 5% of their total revenue and 10% of their expenses.

Their most valuable asset is the name Newsweek because it will still attract some advertising and circulation revenue. It can always be sold to advertisers as a cheaper alternative to Time magazine.

But the operations end is not sustainable and needs to be absorbed by Bloomberg and fire 90-95% of Newsweek’s current employees.


40 posted on 05/30/2010 7:52:42 AM PDT by jimbo123
[ Post Reply | Private Reply | To 34 | View Replies]

To: abb
From: Newspapers now have lost half of core sales

The decline in newspaper advertising eased in the first three months of 2010, but the industry exited the quarter with less than half the revenue base it had in the same period in 2005.

Print ad sales for the industry skidded 11.4% in the first three months of the year to $5.2 billion, according to data released yesterday by the Newspaper Association of America. This compares with $10.3 billion in the same period in 2005, reflecting a decline since then of 55.3%.

While the sales slide in the first period of this year was not as severe as the 29.7% dive in the same quarter a year ago, it nonetheless ranks as the third worst Q1-setback setback on the books. The long-term print revenue trend is illustrated below.

[Snip]

The first-period plunge marked the 16th consecutive quarter of declining print ad sales – a trend that commenced, significantly, in April, 2006, or well before the global economy began to crumble.

Print advertising matters because it traditionally accounts for three-quarters of the revenue base at most newspapers, with circulation and digital media making up the rest.

The extent of the long-running decline in print advertising – the core business at every newspaper – can be illustrated by comparing sales in the first quarter of this year with sales for the same period in 2005, when the industry posted all-time high sales of $49.4 billion. Here are the stark results:

As you can see in the table above, the three principal classified categories were hammered the hardest: auto, real estate and employment. While these three verticals were at ground zero in the economic firestorm, the categories are unlikely to recover fully in the future, as advertisers in the respective categories migrate to free or low-priced websites ranging from Craig’s List to Zillow to Cars.Com.

Though hit less than the classified categories, retail and national advertising both have suffered profound contraction.

[Snip]

While print at the moment is far from dead, more than half of newspaper readers are over the age of 50. Because newspapers have failed to attract young readers to the degree they historically attracted their elders, they will have to change almost everything about their businesses if they have a hope of sustaining their valuable franchises.

The less-awful sales in the first months of this year gave publishers the gift of a bit more time to fundamentally reposition their businesses. But there is nothing in the first-quarter numbers to suggest that the storm for newspapers has blown over.


Personally, I found the above article you referenced to be even more enjouable than the one you posted.
41 posted on 05/30/2010 7:53:05 AM PDT by Zakeet (The Big Wee Wee -- rapidly moving America from WTF to SNAFU to FUBAR)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb
Hmm, I suppose it's too much to hope that I'll be able to retire this bumper-sticker soon:


42 posted on 05/30/2010 7:54:16 AM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Grampa Dave

“Each morning the maintenance people pick them up and throw them into one of the big blue recycle containers.”

Proper maintenance.


43 posted on 05/30/2010 7:55:48 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 38 | View Replies]

To: stephenjohnbanker; Grampa Dave

It’s really a shame that trees must die to print their garbage.


44 posted on 05/30/2010 8:05:09 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 43 | View Replies]

To: abb

Maybe not for much longer ;-)


45 posted on 05/30/2010 8:05:46 AM PDT by stephenjohnbanker (Support our troops....and vote out the RINOS!)
[ Post Reply | Private Reply | To 44 | View Replies]

To: Joe 6-pack
Good move by Ruddy.

If he actually gets it, just imagine the fun when he tells Eleanor Clift she now has to support Rush Limbaugh and criticize Obama.


46 posted on 05/30/2010 8:06:14 AM PDT by canuck_conservative
[ Post Reply | Private Reply | To 3 | View Replies]

To: Grampa Dave

There was a big stink a couple years ago when several newspapers were found by the ABC (the Audit Bureau of Circulations) to be inflating their paid subscription numbers by including all the freebies and, IIRC, returns.

Maybe some magazines have been doing the same thing.


47 posted on 05/30/2010 8:07:45 AM PDT by Erasmus (Looks like we're between a lithic outcropping and a region of low compressibility.)
[ Post Reply | Private Reply | To 36 | View Replies]

To: Erasmus

If it weren’t for hotel rooms, USA Today would have to shut down half their press run.


48 posted on 05/30/2010 8:12:25 AM PDT by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
[ Post Reply | Private Reply | To 47 | View Replies]

To: abb
"The reinvented Newsweek ... has targeted a smaller, more sophisticated audience."

ROTFLOL!

But seriously folks, why would a conservative organization want to buy a rag like this anyway? The brand itself is already poison, the weekly news magazine model is dead (even dailies are publishing day-old news everyone has already seen), and the new owners would have to fire almost everyone in the organization? So what's left? Some commercial real-estate, a giant printing press, and established distribution? Commercial real-estate is collapsing, and there's a rapidly growing surplus of giant printing presses. I guess the distribution contracts might be worth something if you could come up with something that you could sell and make money at, which is extremely doubtful, since print media is dying.

So, I say let some lib organization p!ss their money away on buying this dinosaur!

49 posted on 05/30/2010 8:14:00 AM PDT by catnipman (Cat Nipman: Made from the Right Stuff!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Erasmus

Two angles, one markets....... when things get this out of whack those whom step in will win in the long run. Now is the time to buy so many things if you are liquid enough to do so. The other is can you afford to buy something as a ‘wash” but you can gain something from the power that you have. Owning a media outlet such as Newsweek gives you a BIG voice. That may be worth the price alone for Ruddy.


50 posted on 05/30/2010 8:19:56 AM PDT by Republic Rocker
[ Post Reply | Private Reply | To 47 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-71 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson