Following the lead of the Bush White House in dealing with the national financial meltdown of 2008, Affiliated Media Inc (Holding company for MediaNews Group Inc newspapers)yesterday filed for Chapter 11 protection of the bankruptcy code in United States Bankruptcy Court in Delaware.
The similarity to the previous WH Administration comes in that Affiliated Media will not change management of MediaNews Group, continuing to allow William Dean Singleton, Chairman and Chief Executive Officer, and Joseph J. Lodovic IV, President, to run the corporation into the ground once they have legally shed their debt.
The official press release may be found here.
Affiliated Media Inc’s announcement comes at the end of a week that also saw an adverse disposition of a lawsuit against the Pitch’s holding company, VVM. The ruling in that case has raised the possibility that the Pitch may soon come under new ownership or, perhaps, even be outright sold to satisfy the monetary terms of the judgement. WNBTv’s full coverage of the situation can be found here.
WNBTv yesterday contacted Pitch Editor C. J. Janovy for her reaction to the lawsuit and the possible ramifications for Kansas City’s popular weekly. At the time of this post Ms. Janovy had yet to respond to WNBTv .
Traditional Kansas City media, especially The Star, have been extremely reluctant to “legitimize” alternate news sources — most explicitly “blogs” — by either responding to requests for information or acknowledging them as sources for items they publish.
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4:10 PM Saturday Afternoon Update: Ms. Janovy’s response —
I’m not worried about it. The SF Weekly blog entry explains it pretty well. I am much more preoccupied with thoughts about the food at the new Succotash and the spineless Democratic Party. In fact, I have now devoted more time to responding to your e-mail than I have spent even thinking about the Guardian lawsuit.