Lowell Sun’s owner seeks bankruptcy protection
January 16, 2010 at 12:14 pm
The Wall Street Journal has the story. (Via Romenesko.)
Tags: Lowell Sun, media business
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I received an email that the Washington Times is also going down…
The Costellos didn’t know it, but they got out at the right time.
They also owned 1400 Motors, a Cadillac – Olds dealership. I don’t know if it’s still there. The Sun always had four staff cars, Olds F-85s.
Note clearly that it is a pre-packaged bankruptcy.
Hide the good silverware, Northeastern.
A Democrat is coming to town.
Does this have any ramifications for WUML/UMass Lowell? I know the partnership for the “Lowell Sunrise” show ended years ago, but I don’t know if there were any outstanding debts from that?
Dan,
MediaNewsGroup also includes our hometown paper, the Brattleboro Reformer.
@CAvard: The Berkshire Eagle, too. But the Lowell Sun is the only one in Greater Boston. Here is a complete list.
Noticed:
When the Sun got around to carrying the story,it used a version from the chain’s flagship, the Denver Post that reads like a press release, using house sources only. The word “bankruptcy” is in the third paragraph; the filing is downplayed as being a debt/equity swap. The only source is company chief Singleton (on a story that could have, but did not, run locally on Saturday.
http://www.lowellsun.com/ci_14211341
Includes this graf:
“Because all of the company’s individual media properties will be excluded from the filing, advertisers, vendors, employees and subscribers will be unaffected, Singleton emphasized.”
Yeah, like the new owners of the parent company won’t be squeezing every nickel and firing employees to do it. The Sun’s bias is legendary, but when it publishes such undiluted nonsense when the spotlight is turned inward, its already low credibility sinks ever more.