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AAN  |  10-20-2008  9:35 am  |  Association News

Court Filings Shed Light on Creative Loafing's Financesnew

According to a case management summary (pdf) filed in Creative Loafing's bankruptcy proceedings on Monday, revenues are off at the six-paper alt-weekly chain. Atlanta Magazine's Steve Fennessy reports that when CL was looking for financing to purchase the Chicago Reader and Washington City Paper, it projected the expanded company would see revenues of $43 million in fiscal year 2008. But the court filing says that revenue in FY08, ending June 30, 2008, was $35 million, and predicts that sales in the first quarter of FY09 will be only $3.5 million. In other CL bankruptcy news, Washington City Paper has published a statement from one of the company's lenders, Atalaya, which says the bankruptcy filing was "unfortunate and unnecessary," and assures "all interested parties that Atalaya has no intention of attempting to shut down the business." MORE: City Paper editor Erik Wemple talks to the George Washington University student paper The Hatchet about the changes in store as the paper shifts focus.
Atlanta Magazine | Washington City Paper  |  10-16-2008  11:43 am  |  Industry News

Monterey County Weekly: Looking Good at 20

The Weekly celebrates an historic milestone with a special 20th anniversary issue that hit the streets (and the web) yesterday. The 200-page issue, which is saddle stitched and features the Weekly's first-ever glossy cover, "takes a long backwards glance at the people, the institutions, the buildings, the parties and the natural disasters that have helped shape the community" since Coast Weekly (the paper's original name) debuted in the fall of 1988. "The community support has been fantastic for this issue, in much the same way it has been for the last twenty years," says founder and CEO Bradley Zeve. (FULL STORY)
Monterey County Weekly Press Release  |  10-10-2008  8:18 am  |  Press Releases

Charles Gerencser Leaves Southland Publishing for the Obama Campaignnew

The executive publisher of Southland's Los Angeles CityBeat and executive vice president of sales for the chain's other AAN papers announced yesterday that he's leaving on Oct. 17 to join the Barack Obama campaign as a fundraiser and committee leader for California and Nevada. "As a life-long Republican I am seen as a crucial leader in the fight to win votes and raise money for the Senator amongst undecided Republicans and Independents, particularly in the States of Nevada and Colorado which are key Western battleground states," he wrote in an email to colleagues. Gerencser was also a member of the AAN Marketing Committee. As for life after the campaign, he notes that he's applied to two doctoral programs for admission as early as Spring 2009.
LA Observed  |  10-09-2008  11:15 am  |  Industry News

How Local Media Feel the Recessionnew

Advertising Age  |  10-07-2008  12:58 pm  |  Industry News

Still More on the Creative Loafing Bankruptcy Filingnew

On Atlanta Magazine's blog, former Creative Loafing (Atlanta) staffer Steve Fennessy talks to Ben Eason -- who he calls "a tireless networker with a love of jargon" -- and a few worried staffers about this week's filing. Eason reiterates a few points he's been making to the press this week, and adds that, despite his web-first strategy, he doesn't envision a time when his publications don't produce actual newspapers. MORE: Read more from Creative Loafing's John Sugg, Washington City Paper's Angela Valdez, Gawker, and consultant Mark Potts.
Atlanta Magazine  |  10-02-2008  12:31 pm  |  Industry News  |  Comments (2)

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