Los Angeles Times media critic James Rainey looks at the various merger options before the owners of Southern California's newspapers, as the currently bankrupt and recently bankrupt look for ways to hook up to save money.
The chase seems to center on Freedom Communications, owner of the Orange County Register, which has put itself on the market. Most of the hedge-fund money is on the Register merging with MediaNews Group, also recently bankrupt and owner of the nine LANG newspapers. The same group of investors, led by Alden Capital Group, already own major stakes in the two companies.
Alden also owns a piece of the Times, and Rainey reports that the currently bankrupt Tribune Co. has kicked Freedom's tires. But Tribune's internal troubles and potential anti-competition complaints would seem to make this wedding a little more difficult.