Denver Post Parent Company Sells Papers to Manage Debt

MediaNews CEO Dean “Shut the F&%@ Up, We’re Doing Fine” Singleton disclosed that the media company has sold the Connecticut Post and seven weekly newspapers to Hearst in an effort to “manage its balance sheet.” Singleton dismissed the move as business as usual (“This is not our first rodeo”), and insiders are speculating whether this is the first of several deals that will bring Hearst and MediaNews much closer together. 

The only remaining question is whether Singleton will make Aldo Svaldi write an article tomorrow about what a shrewd move it is.

UPDATE: Aldo Svaldi’s article is here. Interestingly, Singleton says the biggest threat to newspapers isn’t the Internet, but rather an “old-fashioned recession” that is hurting ad revenues.

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