Something stinks in Minnesota

Matthew Hoy
By Matthew Hoy on December 27, 2006

McClatchy -- a company that owns numerous newspapers nationwide -- yesterday sold the Minneapolis Star-Tribune for $530 million.

What's scary for anyone working in newspapers today (read: me) is the fact that McClatchy bought the paper in 1998 for $1.2 billion.

How in the h-e-double hockeysticks does a newspaper drop more than 50 percent in value in just 8 years? McClatchy says its just a tax dodge -- they want to write off the loss. But that makes little sense as long as the newspaper is still producing somewhere around the industry average in profits -- 20+ percent.

Both Powerline and Captain's Quarters -- Minnesota-based blogs -- comment on the sale.

Tags

The @sdutOpinion Editorial pages used to be fairly mainstream conservative. When I applied for a letters editor opening there in the mid-00s, I was asked if there's an editorial I wouldn't write. I replied: a pro-abortion one. 1/

Supreme Court: “The Second Amendment is not a second class right. States can’t use subjective criteria when issuing carry permits.”
California: “But what if we added in illegal viewpoint discrimination, and violated the First Amendment at the same time?”
https://reason.com/volokh/2022/06/26/state-attorney-general-suggests-considering-applicants-ideological-viewpoints-in-denying-carry-licenses/?utm_source=dlvr.it&utm_medium=twitter

Load More

Calendar

December 2006
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031

Archives

Categories

pencil linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram