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How?fs This For A Smart Newspaper Investment ?| Use Your Own $100 Million, Borrow Another $430 Million And Within The Year Write-Off 75% of Your Cash and See Your Debt Valued To About 50 Cents On The Dollar
Philip Stone May 8, 2008
When McClatchy sold the Minneapolis Star Tribune to New York?fs Avista Capital Partners and others for some $530 million last year the buzz was what a great deal the private equity company got and what an embarrassment for McClatchy selling a newspaper at a firesale price that it had paid $1.2 billion for some nine years earlier.
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