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Atalaya: CL Generating Positive Cash Flow, Will 'Fill Holes' Soon

By AAN Staff

august 31, 2009 01:13 pm

Managing partner Michael Bogdan tells the Chicago Tribune that without the crushing debt, Creative Loafing is now generating positive cash flow, which will allow the individual papers to hire new employees "to fill holes where they need to grow." He acknowledges that despite all the promises, employees at the six-paper company will likely remain skeptical of Atalaya. "I don't expect people to trust me right now," he says. "The proof's in the pudding." MORE: Chicago Reader associate publisher Steve Timble discusses the sale and the new media landscape on WTTW's Chicago Tonight TV show.

View full article at Chicago Tribune

Tags: Editorial, Electronic Publishing, Financial, Management, CL, Inc., Chicago Reader, Steve Timble

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