Wednesday, November 30, 2011
Media / News Sun-Times Media in play?
Posted by Michael Miner on 11.30.11 at 05:41 PM
A group of investors is being assembled to buy Sun-Times Media Holdings LLC, Crain's Chicago Business reported Wednesday. Leading the charge is Michael Ferro Jr., CEO of Merrick Ventures LLC, and the offer reportedly being considered is $14 million plus assumption of debt.
I suggest keeping an eye on the CCB brief not simply for further developments but to read the comments collecting at the bottom. There are only a few as I write this, but they're an intriguing sampling of reasons why CCB readers say they don't read the Sun-Times.
"Too liberal," says one. "Subserviently appeasing and politically correct."
Fire Jack Higgins, Stella Foster, and Mike Sneed, says another.
These contributions make turning the paper and company around sound like a piece of cake.
Comments (3)
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Why would those comments illustrate anything about Sun-Times Media's prospects for a turnaround? Virtually every time there is a news article about a media company there are always comments from people who claim that media company is extremely liberal and that this is the reason it may be facing headwinds. It doesn't matter what media company it is. There probably is some sort of concerted effort from some group to post comments on news articles about the press that scream about liberal bias. This type of thing should not be taken very seriously when it is said about a mainstream publication like the Sun-Times. It certainly shouldn't be taken as worrisome for the prospects of that particular media organization. The people who make those types of comments, if they really don't read the publication because they feel it is too liberal, are not the type of people who are going to determine whether it becomes successful. These are fringe individuals and do not reflect the opinions of the overwhelming majority of people. They do not pose a financial threat to news organizations.
That's clear the way it plays out. There was a Wall Street Journal article a couple of months ago on something about NBC (not even NBC News) and virtually all of the hundred or so comments were people complaining that NBC News is far left and that this is the reason that NBC is struggling. This was despite the fact that, for one thing, this wasn't even related to the topic of the article. The reality, of course, is that NBC News's ratings are better than any other news division. That has been the one strong point of the network. But that's not what one would think if they were to take seriously what comments on news articles mean for a news organization.
Even putting all that aside I don't know what four comments (that's how many there were at the time you posted, excluding one duplicate) could ever possibly show about readers views of a media company with hundreds of thousands or millions of readers. So I guarantee that these comments indicate nothing about whether turning the company around ends up being a piece of cake.
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I can't understand how there is anything left to aquire, the last six owners sucked so much out of the Sun-Times, that there is nothing left but dust.
dear mr ferro:
i'm in for 12k, if you're willing to accept that lowly amount from an eager-to-help, potential investor.
if not, please sign me up immeditely as a future home delivery subscriber, cost unknown, newspaper, sight unseen.
thank you.
