Sam Zell’s Plan D: It’s All About Buying Time

Buying time, though, is what everyone in the newspaper industry is doing. The New York Times did it today as well, mortgaging its landmark building for $225 million. Scripps is doing it by "selling'' the Rocky Mountain News. All the companies are doing it as they refinance their businesses with ...

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Tribune’s Descent Sends New Shock Waves

* We've learned that Zell isn't too good with math. He told Portfolio's Joanne Lipman just last month that: "When we looked at the historical numbers, we saw an average erosion of about 3 percent. At the time we underwrote the transaction, we used a 6 percent erosion." But look at Tribune's 4Q, ...

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Nine Questions on Newspapers’ 2Q Reports

So what do we make of the first half of 2008 in DailyLand? Bad and getting worse. I’ve listened to the CEO webcasts — so you don’t have to! — and must say that there were a couple of eerie echoes of my own suggested remarks, offered a couple of weeks ago ("Candidly, ...

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Yahoo and Newspapers: Playing with Fire

As Yahoo burns, the newspaper industry watches, hoping it won’t get singed. The Google/Yahoo search ad agreement has drawn lots of comments over the past couple of weeks, but its impact on newspaper consortium members has gotten little attention. The deal itself, if implemented, ...

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