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Media News Files Bankruptcy
 
 
 
 
 
Mark Loundy, Photo Editor
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San Jose | CA | USA | Posted: 2:10 PM on 01.23.10 |
->> From me on Twitter:
Jan 15th
This is not good. Media News announces pre-packaged Chap 11 http://bit.ly/8kdMP9
Press release from MNG holding company about bankruptcy : http://bit.ly/6WTjX9
Jan 18th
An excellent look inside Media News by Martin Langeveld: http://bit.ly/4z7bjF
-- @Mark |
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Jose Carlos Fajardo, Photographer
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Walnut Creek | CA | U.S.A. | Posted: 3:51 PM on 01.23.10 |
->> Hey John!
Does that mean I'd better start looking for work at Home Depot? |
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Konstandinos Goumenidis, Photographer
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Bay Area | CA | USA | Posted: 4:18 PM on 01.23.10 |
| ->> Sad but one of the reasons why I quit working for BANG... have kids to think of :-/ Best of luck to all you guy if anything happens. |
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Steven E. Frischling, Photographer
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| | | Posted: 4:21 PM on 01.23.10 |
->> As former MediaNews staffer I feel sorry for my former colleagues who are still at my old paper.
I know many of them feared getting sacked in the last two years. |
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Robert Hanashiro, Photographer
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Los Angeles | CA | | Posted: 4:49 PM on 01.25.10 |
->> http://newsosaur.blogspot.com/2010/01/next-for-medianews-rolling-up-ailing....
..."Translated into plain English, this means William Dean Singleton, the ever-resilient chief executive of MediaNews, will use his newly streamlined balance sheet to pursue his long-time passion for extracting profits from struggling newspapers.
In even plainer English, this means merging profit-challenged properties in multi-newspaper markets and consolidating their operations at every level – in the newsroom, in the ad department and throughout the production chain – to wring fatter profits from what remains.
In the plainest English, this likely means more lost jobs." |
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Rick Giase, Photographer, Photo Editor
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Arvada | CO | USA | Posted: 8:33 PM on 01.26.10 |
->> "The reorganization plan calls for Singleton to receive a $634,000 salary and an annual bonus of up to $500,000 as Affiliated's chief executive. He will also continue to be paid $360,000 annually under a separate agreement with The Denver Post Corp., according to court documents.
Joseph Lodovic IV, Affiliated's president, will get a $1 million salary, an annual bonus of up to $500,000 and 3 percent of the reorganized company's stock, according to court documents. He has already earned $500,000 in bonuses for overseeing recent changes at the Denver newspaper and helping to gather lender support for the reorganization. He is eligible for an additional bonus of up to $250,000, contingent on the timing of the plan's approval."
http://blogs.westword.com/latestword/2010/01/medianews_group_bankruptcy_sto...
What's in your wallet? |
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