Entries tagged "Gannett"
Like Gannett, debt-burdened McClatchy fumbles an exchange offer and struggles with debtholders who may like it better dead than alive.
Gannett has enough problems battling recession and flagging newspaper fortunes. But on top of that, the chain must cope with credit default swaps and empty creditors. The result could be Chapter 11.
Its largest shareholder bails, drawing attention to newspaper giant Gannett's mounting debt woes.
Some financing markets are open, others are closed. The future remains desperately uncertain, but at least the patient shows signs of life.
The newspaper industry was struggling before the economic slump. Now papers desperately try a variety of strategies, some to survive, others to prepare for a future that's still unknowable.
