Thursday, December 11, 2008

MediaNews Downgraded

Posted By on Thu, Dec 11, 2008 at 7:05 PM

... to a "substantial risk of default," says Moody's Investors Services. The company has a debt of close to $1 billion.

But the Times-Standard's parent corporation bristles at Editor & Publisher's musings to the effect that the massive American newspaper super-chain could be headed toward bankruptcy, following the Tribune Co.'s trailblazing path down that road earlier in the week.

On the plus side, MediaNews honcho Big Dean Singleton has apparently backed away from the idea of outsourcing some editorial operations to India.

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Hank Sims

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