Thursday, April 23, 2020

McClatchy: On the clock and on the block

Chatham Assess Management has made an official bid for McClatchy as it currently sits in bankruptcy court.

Of interest here in Texas is that McC owns the Fort Worth StartleGram, which has looked primed to move closer and closer to an informal, if not formal, JOA with the Dallas Snooze for some time.

The big sticking point has been, in my guesstimate, that Belo owns nothing but the Snooze, a few Dallas print spinoffs and that's that. Basically, a JOA for these two papers means the end of Belo as an independent company. Yes, it's also got that digital marketing biz, but ...

It's unclear if and when McC will get sold and to whom. Per Chatham's bid, it's also unclear if it will be accepted and on what terms, or even officially let into the mix as a stalking horse bid.

But I would be seriously surprised if the Metromess proper (excluding Little D in Denton) has more than 1 independent daily paper by Jan. 1, 2021.

As I wrote on Tuesday, the Snooze probably should be snoozing print days.

The next step closer to a formal JOA, or something like that, would be it and the StartleGram deciding, between days other than Wednesday and Sunday, who's doing a print version and who's not, since they have a certain amount of distribution overlap beyond Dallas and Tarrant counties and the inner ring of suburbs.

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