A couple weeks ago, I gave mention to the McClatchy Company selling the Star Tribune for 40-some cents on the dollar, or well more than $500 million below the $1.2 billion they paid for it in 1998. The post contains the Strib article, a press release and a nice write-up by Greg Sterling regarding the sale and the current status of the newspaper industry.
Here’s a City Pages article regarding the sale, giving a viewpoint that you probably haven’t seen before, and you don’t have to give personal information away to read it for “free”. It’s a compelling article, with a few side articles including views from the actual people who make the Strib tick (stuff you won’t find in the WSJ).
Maybe McClatchy made enough revenue in the Strib’s 8-year ownership and sold while they could, maybe they bought something they just couldn’t afford. I’m not in the industry and don’t have a big opinion “why”. I’m just waiting for a major daily to bring out the perfect match between trusted print readership, and the deep online content and user-friendly ads to go along with it.