Newsonomics: Are Post-Paton DFM Cuts More Than a Milking Strategy?

Two months ago, Digital First Media’s deal to sell itself to Apollo Global Management collapsed (“Apollo withdraws from DFM deal, Paton leaves”), and its founding CEO (and would-be industry leader) John Paton said he would leave the company. Now, as of July 1, he’s gone. New CEO Steve Rossi, ...

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The Great Devaluation of the American Daily Newspaper

James Dolan surprised many casual observers of the flailing newspaper trade when he suggested he might bid on the for-sale New York Daily News—and offer a dollar. But the dollar is a good proxy for the familiar question mark, as in who the hell knows what a newspaper property is worth these ...

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Apollo Withdraws from D.F.M. Deal, John Paton Leaves

As of today Apollo Global Management won’t meet Digital First Media’s price. That price tag of $400 million (“What are they thinking? Apollo’s acquisition of Digital First Media”) had been wavering as Apollo did its continuing due diligence over the last two months. “We have concluded we are ...

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What Are They Thinking? Apollo’s Acquisition of Digital First Media

Apollo Global Management has almost won its two-horse race with Cerberus Capital Management to acquire Digital First Media’s 75 daily newspapers and more than 100 non-dailies, or as DFM likes to put it “800 multi-platform products reach 64 million Americans each month across 14 states.” The two ...

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Cerberus, Apollo Bidding for Digital First Media

First published at Capital New York   After one cost-cutting private equity company has spent close to half a decade wielding the knife at Digital First Media, how many new “efficiencies” might a second P.E. buyer find? That’s the question we may soon see answered, as the sale of Digital ...

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Newsonomics: Digital First Media’s Upcoming Sale Produces Some Surprises

Anxious journalists from San Jose to Saint Paul, New Haven to Novato await the final shouts of the Digital First Media auction. Bidding is still in progress, as DFM’s regional business heads coast to coast make presentations to would-be buyers, anonymous to them, by conference call. They share ...

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Newsonomics: Digital First Media’s Newspapers Half-Billion Dollar Pricetag (and California Schemin’)

Could the sale of the Digital First Media properties lead to the U.S.’s first quasi-national newspaper company? That’s the hope of DFM’s current owners, and the shiniest lure tossed out into the newspaper property marketplace by UBS, the unorthodox pick of DFM to be its banker/broker as its six ...

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The Newsonomics of Digital First Media’s Thunderdome Implosion (and Coming Sale)

Follow Newsonomics on Twitter @kdoctor First published at Harvard’s Nieman Journalism Lab   Today, we’ll hear official word of the demise of Project Thunderdome, one of the news industry’s highest-profile experiments in centralized, digital-first, mobile-friendly, new-news-partner ...

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New Hollywood Sequel: Aaron Kushner’s L.A. Register

Why, I asked, Aaron Kushner, is he announcing the new L.A. Register as we’re winding down toward the end of the year? Given that the big questions about it — when will it launch, how will it be staffed — are as yet unannounced, why put the news out now? “We were ready to ...

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The Newsonomics of the November Shuffle, From Forbes to Freedom and Couric to Stelter

First published at Harvard’s Nieman Journalism Lab Ah, the pre-Thanksgiving bounty. Those of us who try to chronicle the business end of the news business have seen our plates overflowing lately. Not since the Bezos blitz of August have we seen so many announcements, shuffles, offers to ...

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