< Back to All News

MediaNews disputes 'default' talk

MediaNews Group, the Bay Area’s largest publisher of daily newspapers, is disputing newspaper industry analyst Emile Courtney’s assertion that the chain is in danger of default. If anything, MediaNews contends, its debt situation should improve this year, not get worse.

MediaNews issued its retort through a story in its flagship paper, The Denver Post. The story quotes company president Jody Lodovic (pictured at left) as saying MediaNews will weather this storm as it has survived in the past. “This is not our first rodeo,” Lodovic said. The quote sounds oddly like something that would be said by Lodovic’s boss, chief executive Dean Singleton (right), owner of four cattle ranches.

As the Press Club Web site reported April 11, MediaNews has stopped releasing its financial information to the public. Yet the Post article provided some insight into the highly leveraged MediaNews empire:

Meanwhile, a commentator for the online newspaper the Minnesota Post (which is competing with Singleton’s St. Paul newspaper), says yesterday’s brink-of-default report about MediaNews is old news. However, commentator David Brauer says he’s concerned about the company’s decision to stop reporting its financials to the public:

(Photo credit: MediaNews Web site)

< Back to All News