The LinkUp Blog The Industry's Best-Kept Secret
New York Post: Star Tribune Headed For Bankruptcy
It’s certainly no secret that the Star Tribune is in serious, serious trouble. Hundreds of news stories over the past two years have documented the rapid decline of Minneapolis’ daily newspaper. Many blogs (including this one) have had a field day with not only the deteriorating condition of the Strib, but the litany of management mistakes, boondoggles, and, in one case, borderline criminal behavior. With each incredible chapter of the story, it becomes, surprisingly, both easier and harder to imagine that things can get worse. And getting worse they are, indeed. The New York Post is reporting today that the Strib is near bankruptcy, with major creditor Credit Suisse likely to end up in control of the daily in the very near future. For certain, Minneapolis was the odds-on favorite to be the first major U.S. metro market to lose it’s daily, but (and nothing, or course is official yet) no one thought it would happen this early in 2008.
[tags]New York Post, Minneapolis Star Tribune, Credit Suisse, Dailies Will Begin Dropping Like Flies, Bankruptcy, Who Will Credit Suisse Sell The Strib To?[/tags]