Jan 18, 2011

MediaNews and Freedom are thinking merger

The shakeup in the MediaNews Group boardroom, led by news that Dean Singleton is stepping down as CEO, isn't just a case of musical chairs. As the Wall Street Journal reports, two of the three new board members named today work for a company that is part owner of Freedom Communications, publisher of the Orange County Register. An insider told WSJ that the company, Alden Global Capital, is thinking merger.

MediaNews owns nine newspapers in Southern California, some of which already have a working relationship with the Register.

But the consolidation plans could go much further. From the WSJ:
MediaNews Group Inc., publisher of more than 50 daily U.S. newspapers including the Denver Post, is eyeing a merger with Freedom Communications Inc. and possibly several other newspaper companies, according to a person familiar with the matter. 
The person ... said Alden wants to roll at least some of its various newspaper holdings into a single company. Alden was part of a group of financial firms that emerged last year as the winner of the auction of the Philadelphia Inquirer and the Philadelphia Daily News. Alden also owns a stake in Journal Register Co., which publishes the New Haven Register among a group of other papers.


Anonymous said...

So, the emperor steps down. Is health a reason or has the management team he surrounded himself with finally being recognized for their effort?

Although, if true, a merger will cause more angst for employees, but, one hopes that after additional downsizing, they can proceed in a better run company and management team

I wouldn't bet the farm, however, hope springs eternal.

Anonymous said...

Hasn't Singleton been battling multiple sclerosis for a while? Not that that doesn't mean there won't be a merger!

Anonymous said...


Everyone has speculated that Uncle Dean was trying to "buy" the OCR, instead, they are "buying" us.

It's all smoke and mirrors, my brothers and sisters.

Anonymous said...

ironic, isn't it?

Anonymous said...

Hold on a moment...I am running low on tissue.

Anonymous said...

I have been aware of Deano's M.S. since the mid- to late 1990s; can't pinpoint the exact year I first learned about it. I don't think he's made it a big secret.