What's Behind Copley's San Diego 'Union-Trib' Sale? (Ominous outlook for newspapers)

[marmar]

from Editor&Publisher:



What's Behind Copley's 'Union-Trib' Sale?

By Jennifer Saba

Published: July 25, 2008 2:40 PM ET

NEW YORK Why now? Why put The San Diego Union-Tribune -- a major metro at that -- on the block during a time that could kindly be described as one of the most challenging for the industry?

For years, there was speculation that the Copley family, who have run the Union-Tribune in one form or another since 1928, was looking to unload its flagship.

"We feel now is the right time due to influences in the market, particularly in a real estate-dependent market like San Diego," wrote Union-Tribune spokesperson Drew Schlosberg. "We're confident the business will turn around, but as noted previously the uncertainties today make the risk too great for us to not explore options."

But are we really at the bottom?

"I don't know for sure how to read this," said John Morton of Morton Research who tempered the notion that the Copleys are looking for an escape hatch. "It may mean the family, whose head is ailing, may have just decided to get out while the going is good."

....(snip)....

Former newspaper analyst Lauren Rich Fine, who still keeps close tabs on the industry, said she wasn't shocked to see the news of a possible sale. "It's somewhat reminiscent to me of McClatchy selling the Star Tribune," said Fine who is now working with Kent State University. "It's a really difficult environment with fewer economies of scale."

On this ominous note she added: "Things feel like they are getting worse, not better." ......(more)

The complete piece is at: http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003831974

[SteveM]

1. I imagine it's like unloading stocks in a failing company...

The "company" being daily newspapers of any sort. Just what would the San Diego Union-Tribune be worth in, say, five years?

[MindPilot]

2. They did it to themselves -- starting a couple decades ago

First was the merger of the San Diego Union with the Evening Tribune so two papers with diverse editorial viewpoints became one right-wing rag.

They lost thousands of subscribers who canceled in protest of their anti-union activism. They fired their best reporters and columnists causing even more to quit.

They got caught pumping up their circulation figures by having papers delivered to non-subscriber addresses.

They were cheerleaders for the Iraq invasion arguably more than any other major daily.

And to this very day, their unquestioning editorial support of Republicans, the Bush administration and everything they do is legendary.

OTOH, it was UT reporters who broke the Cunningscam/Wilkes scandal, but AFAIK they are gone too.

Yet they still a few times a week print an LTTE whining about how liberal they are.

[MindPilot]

3. Dramatic Losses Force Union-Tribune to Lay Off Employees

Wednesday, Jan. 16, 2008 | The San Diego Union-Tribune laid off 27 employees Tuesday afternoon, including at least five newsroom staffers, the latest cut in a company that has reduced its workforce by 10 percent in the past month.

On top of the layoffs, the Union-Tribune has bought out 76 employees since late December, laid off an additional 14 press room workers and told 18 advertising artists their positions would be outsourced later this year.

The layoffs mark a seminal moment for the local newspaper: visceral evidence of the extent of the company's financial struggles. While the newspaper has previously acknowledged the challenges posed by an industry-wide financial downturn, it has addressed them through less painful methods, either by enticing employees to leave with voluntary buyouts or by not filling vacant positions.

snip

In total, the Union-Tribune's newsroom, once estimated at about 360 employees, has lost at least 51 staffers from the layoffs and two rounds of buyouts. Copley Press's 10-member Washington, D.C. office has been cut in half, losing reporter Marcus Stern, who broke news of the scandal that led to the resignation and jailing of disgraced former Congressman Randy "Duke" Cunningham. That coverage won the newspaper a Pulitzer Prize in 2006.

http://www.voiceofsandiego.org/articles/2008/01/17/economics/911uniontribune011608.txt

[Joanie Baloney]

6. It's a good thing and a long time coming

Maybe as more and more disgruntled ex U-T staffers drift into other arenas like The Reader or The Voice of San Diego, there will be a more diverse point of view available with "unbiased" reporting.

Cuz we sure as hell don't got that right now!!

-JB

[Zorro]

4. San Diego is turning "bluer"

and perhaps people are getting fed up with the unabashed pro-Bush, pro-Republican agenda the paper has consistently pushed for the past 8 years.

They were one of the primary sponsors of that dipshit Joseph Perkins for years; I wonder whatever happened to that asshole, because he was so pro-Puke I suspect he was on the GOP payroll like Armstrong Williams.

[MindPilot]

5. HAHAHA Joe Perkins was an embarrassment to say the least

Remember a few years ago when Perkins wrote a piece claiming that AmericanStranger's flash movies were DNC-funded?

what a twit.