What does Alaska newspaper sale mean for McClatchy?
A decision to sell its Alaska newspaper doesn't signal severe financial trouble for The McClatchy Co., according to a media analyst.
'I think it's an opportunistic sale,' said Ken Doctor, a media analyst who runs Newsonomics.com. Selling the Anchorage Daily News to Alaska Dispatch Publishing for $34 million is a chance for the Sacramento-based media company to reduce its debt, Doctor explained.
McClatchy has no plans to sell other newspapers, according to Peter Tira, the company's communications director. But Doctor thinks the company wouldn't be adverse to the idea if the opportunity arose.
'I think they'd be open to it. But especially for the metros, there's not a lot of willing buyers,' he said.
The company's debt reduction efforts took a step forward with the recent sale of Apartments.com, a deal expected to generate proceeds of about $90 million for McClatchy after taxes. A recent report from USA Today suggests Cars.com, owned by a group of newspaper publishers that includes McClatchy, also will be sold.
'When Cars.com gets sold, on top of Apartments.com, those guys will put a real dent in their debt,' Doctor said of McClatchy.
The Anchorage Daily News is the first newspaper McClatchy has sold in many years. The newspaper was profitable, McClatchy president and CEO Pat Talamantes said in a Tuesday news release.
When McClatchy acquired an 80 percent ownership stake in the Anchorage Daily News in 1979, it was the company's first publishing venture beyond the Central Valley.
'We weren't looking to sell the Daily News, but after Alaska Dispatch Publishing approached us, we saw advantages to local ownership in this case and opportunities for consolidation that would strengthen both news organizations,' he said.
Sonya Sorich is social engagement manager and a staff writer at the Sacramento Business Journal. She oversees social media activity and writes about retailing and small business.
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