Star Tribune's owner forced to write off much of its investment

  • Article by: NEAL ST. ANTHONY , Star Tribune
  • Updated: May 6, 2008 - 11:14 PM

Avista Capital Partners wrote down 75 percent of its $100 million share of the purchase price and said the outlook is still uncertain.

  • 11
  • Comments

  • Results per page:
digalvinMay. 6, 08 9:54 PM

Chris Hart the businessman cut costs to offset revenue losses. What the Star Trib really needed was for Chris Hart the publisher to put quality and reporting back into the paper. too late now. It's only down hill from here. BUT then, no surprise, another business decision based on short term numbers, not long term sustainability of the "company" or the brand. There's a reason fewer people pay for the Star Trib -- it's not worth the price. Might as well rename it Avista's Assoc. PRess, fire the rest of the reporting staff and call it a day. After all, isnt' labor always the most expensive part of the manufacturing process?

22
9
klevenjMay. 6, 0810:21 PM

I'm the problem! The Strib doesn't make much off of me. Don't get me wrong: I am a dedicated reader of all things news and sports, but I always read it on this website. The newspaper industry still needs to figure out how to pay the bills in this new era of 'print' journalism. Avista obviously hasn't figured it out yet, and they are far from alone.

33
0
wanningerMay. 6, 0811:12 PM

My company spent hundreds of thousands annually on advertising. They literally threw our money out the door with an amazingly arrogant and irrantional attitude. When negotiating a contract that was worth 6 figures, they basically told us to pound sand. We withdrew our advertising completely, and found that our sales actually INCREASED when our dollars were directed to other media. This newspaper is irrelevant to sales. Thus, they are destined for a liquidation. They have only themselves to blame.

29
5
fast_eddy3May. 7, 08 6:35 AM

Bottom Line- readership (like sales) solves all problems. So few people actually read the Strib, except for entertainment purposes. The reporting and editorial writing are an intellectual joke. To read the Strib is like a trip to an old zoo, pathetic entertainment, as opposed to information and enlightenment. When somebody finally discovers that there is a market for objective news reporting, and balanced editorial comment( or dare I say: even, gasp, a conservative leaning), then get the thing delivered when and where it's needed- readership, and ad revenues will flow to them. Good newspapers have online subscriptions and/ or significant ad revenues. On a separate note: I wonder if Avista would like to buy some of my junk

14
19
sparky5006May. 7, 08 1:12 PM

S & T would have done much better if they were FAIR and BALANCED!...

8
7
bh1963May. 7, 08 4:36 PM

Who'd a thunk that the Pioneer Press would be the survivor in the Twin Cities newspaper war? True, most eyeballs, and thus advertising dollars, are going online. But it's a lot easier to read a newspaper in the bathroom, rather than carry in a laptop. I agree with "sparky 5006", the consistent editorial bias of this paper has resulted in the recently reported 7% drop (about 35000 subscribers) in circulation.

3
3
daphned3620May. 7, 08 6:05 PM

Now I feel like garbage I read the Star Trib online and don't subscribe to the actual physical paper. Sorry .. guys! I would gladly pay to use the site here .. give it a thought. I am serious .. I will pay.

2
4
mschwabacherMay. 7, 08 6:11 PM

The reason the Pioneer Press's circulation hasn't plummeted as much as the Star Tribune's is their website sucks. People stopped buying the Strib because their website is great. The Pi Press isn't better, it's just that paper is still the only real option in St. Paul. If the Start Tribune could find a way to make more money on their website they'd be fine, because their website is great. The problem is now it's cannibalizing their print sales, without bringing in the same revenue as print ads did. I hope they can figure it out. I love the website, but it's built on the paper's reporters. If the paper fails, the website's gone. I'd hate to see that happen.

6
2
jjbensonMay. 8, 08 4:33 AM

The only thing that keeps the Strib viable is the Sports page and Sunday ad stuffers. The time that kicking the socialists out of the news room would solve the problem probably has passed. The well was poisoned long ago. Other than a handful of news junkies and socialists, the editorial page is irrelevant. Anyone with half a mind gets their national and international news from other sources. That leaves local news and both of Nick Coleman's readers. RIP

2
2
kirby96May. 8, 08 9:42 AM

"That leaves local news and both of Nick Coleman's readers" ...one of which is himself.

2
2

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT