The company that owns most of the newspapers in Mendocino County--along with most print media in Northern California--is filing for chapter 11 bankruptcy.
The company said Friday that it would file a reorganization plan already approved by lenders in a bid to emerge from bankruptcy more quickly...MediaNews Group Chairman William Dean Singleton said company management, newspaper operations, employees and vendors wouldn't be affected by the Denver holding company's restructuring.
Not that there's anyone left to layoff. Singleton, after all, is Mr. Corporate Media himself--the man who consolidated Northern California's print media into a near monolith, a sprawling blob of understaffed "properties;" the man who once said he'd rather please one banker than a thousand journalists; the man who moved the Connecticut newsroom where I once worked into the attic of a Bed, Bath & Beyond as soon as the deal was done.
So what, then, will chapter 11 mean for our local press? According to the Daily Journal, Singleton said it'll give MediaNews "one of the strongest balance sheets in the industry" and "breathing space to create a new model for the newspapers we publish."
Right. If MediaNews's old business model was any indication, we can only imagine what that "new" one might look like...Goodbye Willits, Mendocino, Ukiah and Fort Bragg--hello Bangalore!