That other really important story | Bleader

Tuesday, December 9, 2008

That other really important story

Posted By on 12.09.08 at 02:14 PM

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Just so it doesn't get lost in the newspocalypse, Ian Welsh: "The reason the Tribune went under isn't primarily because dead tree media is having a hard time making money these days, though it is.  The reason it's going under is because it has too much debt, and can't borrow much more.... This pattern is going to repeat with a lot of private equity acquisitions.  Most were bought with the explicit intention to flip, but in the middle of a bad recession or maybe even a depression, with balance sheets burdened by debt related to their own takeover, no one wants to buy and the debt makes it hard for them to survive."

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