« Breaking News: 300 People in Tucson Want to Raise Taxes. | Main | Feeding the Hand that Bites You. »

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

One of the rumors being circulated here is that the buyer will take the paper online only. It makes sense in many ways. It would separate the new Citizen from the JOA and eliminate the need to buy new printing presses and delivery systems.
Considering that InDenverTimes.com has private backers, I think it's very feasible that someone will make a move on an online-only news Web site. The question is, who the hell would want to buy the Citizen name? This is not the Rocky Mountain News we're talking about here.

It also would be totally unconscionable to sell the Citizen to the Dandy Dime and then skip out on employees' severance pay. Or to deny severance to employees who planned to start a new job next week (thinking the Citizen would close Saturday) ... Nah, Gannett would NEVER do that.

It could be even worse. Gannett could sell the paper to a buyer who uses the reporters' pension plan money. That's what happened when Sam Zell bought the Tribune papers. See:
http://www.businessinsider.com/2008/12/how-sam-zell-and-tribune-management-screwed-employees

and

http://www.nytimes.com/2008/12/09/business/media/09sorkin.html?_r=1&ref=business

I was surprised when I saw this news item. It was together with the report that the San Diego paper was sold. SD was a bit of a pleasant surprise (anybody buying a paper right now is a surprise), but the Citizen is a shocker.

It may be one of those deals where the "seller" pays somebody to take it off his hands. That's pretty much what Hearst did with the SF Examiner when they wanted to buy the Chronicle a few years back. (How'd that work out?)

The comments to this entry are closed.