MediaNews owner Dean Singleton has asked a union representing employees at the Denver Post and Rocky Mountain News to reopen negotiations as he tries to find $20 million in savings from the two newspapers.
Earlier this week, Moody's Investment Services downgraded MediaNews' debt rating to Caa3, which means the company runs a"significant" risk of defaulting.
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2 comments:
Unfortunately, that's the kind of thing that could easily spill over to his other properties.
Dean Singleton is starting to look more and more like Jeffrey Gluck, who bought the old St. Louis Globe-Democrat in 1984 even though he didn't have any money.
They paper was in bankruptcy within two years.
Sadly, it no longer exists.
You can expect the Singleton papers to beging merging or going belly up in the next two years.
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