Tuesday, January 19, 2010

LDS Church vs City Weekly?

Posted By on January 19, 2010, 7:50 AM

Saturday's Trib story that the paper's owner, Media News Group's Dean Singleton, is filing for bankruptcy was flagged on the front page and then buried in the paper. What was amazing about it was that Singleton somehow managed to dump his debt in favor of equity to a number of lenders yet at the same time still came out controlling his own company. Way to go Dean!---

Where that leaves the future of the Tribune however, is unclear. But then it's been that way for more than a year since the recession and the explosion of classified ads on the internet hammered print revenue streams to pitiful dribbles. Media News' position, according to press reports, was that the debt restructuring wouldn't impact on the newspapers and media it owned.

But rumors from the Trib's newsroom have persistently indicated that Singleton was in negotiation with the LDS Church to sell his holding in the Trib to the LDS Church, which owns the Deseret News.

 One source not employed by either paper that I spoke to last night said that a D-News reporter had been heard at a recent function echoing similar sentiments. 

So does this mean that Salt Lake City Weekly may one day soon be the sole alternative to LDS Church-controlled print news sources in the valley?

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