Another potential buyer says he’ll bid on the Tribune
An unnamed entity sent a letter of intent to buy the East Valley Tribune last week, but a second potential buyer has made it clear that he intends to make a bid for the newspaper in the near future. Steve Hadland, CEO of the Santa Monica Media Company, said he is still pursuing the purchase of the Tribune.
Read MoreFreedom paid out $3.7M in bonuses to top executives
Most Freedom Communications employees probably have never heard of the company’s MBO bonus program, but the higher-ups know all about it. The program paid out more than $3.7 million to Freedom’s top executives during the past year, not to mention other expenses such as partner …
Read MoreBankruptcy filings show Tribune publisher earned $334,000 last year
It’s a familiar story these days: Top executives reaping disproportionately large salaries and mind-boggling bonuses while executing poor business strategies and laying off hordes of employees. It’s happened in the finance industry, construction, automobile manufacturing, computer software and beyond. But now, we can count the newspaper industry among them.
Read MoreEast Valley Tribune to shut down; what’s next?
Freedom Communications has failed to muster an acceptable offer from anyone interested in buying the East Valley Tribune, and it’s planning to shut down the Mesa-based newspaper at the end of the year. It’s been a tough road for the employees, who have tried to keep …
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