Thursday, November 06, 2014

Is The Register Sinking Deeper?



RECEIVERSHIP ON THE HORIZON? 
A few minutes ago the Orange County Business Journal reported that two investers who participated in the financing of the purchase of Freedom Communications by Aaron Kushner and Eric Spitz two years ago have asked the Delaware Chancery Court to put Freedom into receivership.  According to the OCBJ report, which quotes the website Law360, the reason for the request is because, "it needs independent oversight because the company is insolvent and in financial distress from mismanagement."

BIG FINANCIAL TROUBLE
This is on the heels of the botched change in local distribution of the Orange County Register locally, the sale of their headquarters in Santa Ana and pending sale of another 14 acres nearby.

FROM COW PIE TO COW PIE
Kushner and his team botched the launch of the LA Register earlier this year, have laid off many staffers and offered buyouts to others.  They have tried to swim against the tide, emphasizing their print product while every other news outlet in the country is developing their digital presence.

I WANT THEM TO SUCCEED...
Personally, I want Kushner to succeed - I like a print newspaper and they do a good job of covering Orange County issues - certainly better than the also-beleagured Los Angeles Times.  This is not a good time for news folks.  I hope they figure it out.  Otherwise, you're going to be left getting your "news" from bozos like us bloggers!   Arrrggghhh!

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1 Comments:

Anonymous Arthur Nern said...

Maybe Riggy can get a job at the OCR!

11/06/2014 02:15:00 PM  

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