About this blog

Loumug

Our blogger's identity is top secret, but you can call him Lou Grant. He's got the inside dish on doings at the Trib, Sun-Times and other Chicago media companies.


Recent posts

Lougrant

Tyree issues call for 8% wage cut at STMG; It's a gun to their heads


 

  • Eight percent wage cut effects STMG employees.

  • STMG will still lose $1.28 M per month

  • The first move by Tyree has been to put a gun to employees head

  • It's a close call, work for the STMG or unemployment

  • What Tyree needs to change to save the company

 

 

The Windy Citizen posted some additional...more


Tyree bids $5 Million plus assumption of debt for Sun-Times parent; Bids will be opened October 8


James C Tyree and a group of other local investors have entered into an agreement to purchase the Chicago Sun-Times and the 58 newspapers and other properties owned by the Sun-Times Media Group the newspaper holding company announced this afternoon. Tyree bid $5 million and agreed to assume $22 million in liabilities and an estimated $16 million in post petition assumed liabilities.

 

The chain is asking the US Bankruptcy Court for the District of Delaware approval...more


A love letter to Michael Miner; The discussion is not chatter


Michael,

 

I'm writing today about your column on the aggregation scandal at the Hartford Courant.

 

Would it be impolite to note that the issue of aggregation and non-attribution at the Courant was noted by Romenesko in the last few days, with links to the Courant here: Courant Reviews Aggregation Policy and also here: Courant Apologizes For Plagiarism?

 

Also, that it was covered...more


Sachs story could have used pictures; CTDN site needs more photogs


First, Peter Sachs piece on Chicago State University's receipt of funding for a new West Side Campus and that story's rewrite being published by the Chicago Tribune is now up to 55 votes at Windy Citizen. There is a long discussion there of the old ethics of the news room, where using a competitors story to write your own version is accepted and the new ethics of the on-line world, where it is called theft.

 

...more

New York Post: Zell in eclipse as creditors try to oust him


A few months ago Michael Oneal wrote a piece that forecast that Sam Zell might lose control of the Tribune Co. Earlier this week the Chicago Sun-Times reiterated the piece. Now the New York Post has joined in too. All three of the newspaper articles are sourcing from an unknown person or persons, though the Sun-Times and the Post explain the interest of the anonymous party in the bankruptcy.

 

Editor & Publisher has...more


The mixed bag of Zell; Roeder says creditors will oust him


David Roeder predicts it will be an “honorable” exit for Sam Zell as the other creditors force him out. Then he goes on to have a corporate turnaround expert say:

 

"This was a textbook case of a leverage buyout gone bad. These were imbeciles who had no idea what they were doing."

 

Writers, it seems, can have it both ways. The 67 year-old Zell screwed...more


Sun-Times Media Group Cash Burn, IRS problems and Circ Numbers; Real questions for an investor


Mike Fourcher opened another financial analysis, this time of the Sun-Times Media Group at his excellent blog ...more


CLI valuation by Mike Fourcher


Don't you hate when someone else beats you to an entry? Mike Fourcher, who writes at Vouchification, has done a bang up analysis of the value of Creative Loafing (the publisher of the Chicago Reader). It is a must read. I wish I'd written it.

 

When you're talking about a range of values, as Mike is, I don't think the few nitpicking points I'll address here detract from the overall substance of the piece. Nonetheless:

 

  1. Mike used a value of 9X EBITDA from a 2002 discussion of the value of an Alt Weekly. It is likely...more

CLI CEO offers to step down during auction


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The wrong link; CN blogger broke story on lawsuit over tweet


Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ...more


22 Year-old to lead HuffPo in Denver; Surprise, he's well connected.


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Daily Daley is alive and well


The great Daily Daley blog over at Windy Citizen Twittered this Tweet at 8:48 this morning: “Hey folks, we sincerely apologize for the missing Daily Daley on Tuesday and Wednesday. Bear with us as we undergo some staffing changes.”

 

Anna Tarkov, da' honorable chief blogger and instigator reported that first, the blog is alive and well, however a change in the schedule caused some confusion among the bloggers. It is a team blog. So, when the schedule changed, not all the writers were aware of the change.

...more


CMW Blogging workshop


Lou will be discussing blogging at the Monday workshop here:

 

Community Media Workshop Brown Bag 7/27 @ 11:30.

Columbia College. 600 S Michigan Ave., #401

 


God Speed Walter Cronkite


A small confession: I was one of those kids who sat up at night, watching CBS' coverage of the space program. I managed to get my hands on a simple telescope, I looked at sun spots, I saw the rings of Saturn in my yard.

 

I don't remember what was said or how I was dressed when the Apollo 11 landed on the moon. But, it was a night when I was there, watching, like every other kid.

 

Last month I stopped writing for a few weeks. I'd...more


Reader parent to be auctioned August 25th


Michael Miner reports today on the status of the Creative Loafing, Inc. bankruptcy. The bottom line is that if the judge rules that Atalaya Capital can bid the way it wants for the assets, the future is dim for the Chicago Reader and the other alternative newspapers owned by Creative Loafing. The asset auction, as it is called, is open to any person willing and able to bid. Ben Eason, the CEO of Creative Loafing will be bidding with BIA Digital Partners, a major creditor of the company against Atalaya.

 

...more


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