Wednesday, June 15, 2011

MNG's attempt to buy OC Register parent breaks down

Buyout discussions between MediaNews Group and Freedom Newspapers, owner of the Orange County Register, have broken down due to a disagreement over price, The Wall Street Journal reported this morning, citing “people familiar with the matter.”

Freedom, which owns the Register as well as 100 smaller newspapers and several TV stations, is now considering the idea of selling itself in pieces.

While the Journal says the talks are over, others are speculating that the two companies will return to the negotiating table.


Linda said...

Great, Dean Singleton and his wrecking crew have destroyed newspapers all across this land, declared bankruptcy on hundreds of millions of dollars in debt from his last acquisition spree, failed to pay off creditors, and denigrated the news environment coast-to-coast but his nightmarishly incompetent organization is still trying to purchase more community papers?! This on-going spectacle is a prime example of how media consolidation has failed America

Anonymous said...

Where in the world is Dean going to get the money to buy the OC Register? He just came out of bankruptcy last year.

Anonymous said...

In the bankruptcy, most of Dean's debts were written off by the Bank of America, which used TARP funds to forgive the loans. So now his credit card is at zero, which will allow him to do a lot of spending. But I think Tribune is going to get the OC Register, not Deano.

Anonymous said...

I thought the hedge fund that bought a controlling interest in Medianews was going to replace Singleton as CEO. Any news on that? Is Deano scaring away job candidates?