December 19, 2008

Another potential buyer?

In this story about the Journal Register Co.'s closure of 16 weeklies in southern Connecticut, the Hartford Courant mentions that "sources said Thursday that the company has received offers" for The Bristol Press and New Britain Herald "with some interest from outside the state."
Given that the paper couldn't even get a list of the weeklies that the JRC shut down, I'm not too sure about how solid its sources are, but that is the first time I've heard of any interest from outside the state.
I'm not sure what it means, but I hope that Google wants to buy us and make all of the employees at the Press into gazillionaires.
Copyright 2008. All rights reserved.
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Anonymous said...

Google gazillionaries! Google gazillionaires! Google gazillionaires! And, coo-coo for Coco Puffs, while we're at it.

Concerned Conservative said...

Give it up Steve. The Bristol Press' last days are near. The JRC is closing your doors. Nothing can stop it now.

Bob Jelenic said...

Even potential buyers with the best of intentions are likely to eventually back away once they get the complete story. JRC wants their money but doesn't want to let the companies know just how much damage was done to once respectable and thriving newspapers. Now, the presses are outdated, the buildings are in need of costly repairs, the staffs are grossly inadequate, overworked and underpaid, and the technology is not modern.

Not only does a buyer have to pay JRC for their newspapers, the buyers also have to make huge investments to replace presses, repair the slumhouses, hire more people and upgrade computers, servers and other computer and tech equipment.

The asking price is not anywhere close to what a buyer will ultimately be forced to pay, not to mention to routine daily and weekly costs of operating a company in a nearly-extinct industry.

Anonymous said...

That's your problem Concerned Conservative -- no matter where you post -- you are negative. Why should Steve give up? As Yogi said it's not over until it's over. I applaud Steve's efforts and hope it works out. The Press may very well go down but it is nice to see that folks have not given up.

Anonymous said...

Thank you Steve for keeping this topic in the discussion. The JRC wants all of these papers just to go away quietly. They shut down some weeklies in Philadelphia and some weeklies in CT. No notice. Just tossed the employees to the curb. Took the Christmas Ad money and and said see ya. They would have done that with the Press, Herald and the other Imprint weeklies took if they could have. THanks for shining a light on this and giving these papers a chance to live and serve their communities

Anonymous said...

Hey Jelenic,
Guess it's hard to think clearly from six feet under.

Concerned Conservative said...

December 20, 2008 7:43 PM:

You're inaccurate (I'm being diplomatic). I applaud the efforts of people like Ken Cockayne who try to keep government in the hands of the people, not special interest. I applaud the Mayor when he keeps city spending in check, the same for the Board of Finance.

What I don't support is phoney, wind-bag politicans in addition to wrong-headed policy and big-government zealots. If I sound negative for opposing those (unfortunately) common traits of municipal and state government, so be it.

Anonymous said...

CC: please explain the difference between spending to provide the appropriate services and unnecessary or wasreful spending which is not being addressed?

Example: street sweeping of the Mall Parking lot in December.

Frank said...

Thank you for your comments, Concerned Conservative. I almost always agree with you.

Anonymous said...

reading your daily blog has brought back very fond memories of my tenure at the Bristol Press as the Cirulation Director ( 1989-2004). I worked for Publisher Joe Zerbey who was the greatest boss anyone could ever ask for. He knew
how to draw the very best out of people. Joe was very community minded. He lived in Bristol and shopped in Bristol and insisted all of the Dept Heads get involved with the Chamber as well. It was a fantastic team that we had then and the Press was growing. Only when the JRC bought it did it start its rapid decline. I can only imagine what the currrent staff of employees must be going thru at this special time of the year not knowing what will happen after Jan 12th. I have not worked for a Newspaper for close to 12 years now but the ink will always be in my blood. I wish you all well and will pray that The Press can be saved.

Joe Sheehy
Naugatuck, Ct.