I guess that the Retirement System of Alabama has enough asset diversity, and has seen its other assets grow enough, that it can sell individual newspapers at something at least approaching today's market values and let the rest of the chain mark to market on its asset value.
Anyway, last year, per a Google for other reasons, the main reason being to wonder if CNHI was still doing its mandatory quarterly furloughs, last year it sold 10 newspapers to Carpenter Media. These were in its heartland — Alabama, Georgia and one Mississippi.
Carpenter itself is "interesting," per Poynter, which notes its apparent "Chainsaw Al" type operations, which make it currently the sixth-largest US newspaper chain by number of papers. In addition, its acquisition of Black Press, besides US papers, gave it a massive Canadian presence in Alberta and British Columbia. More on that acquisition from the Seattle Times.
Per its own website, their papers include a pair of semiweeklies that I had applied to, as ME, a year ago. They made their acquisition just months after I made the first round of cuts but didn't get the job. Per this longform piece, and per the Times, it's probably good I didn't.
No comments:
Post a Comment