It was a month ago this week that McClatchy CEO Gary Pruitt announced the sale of the Star Tribune to Avista Capital Partners, and, big surprise, there are still few visible signals about the intentions of the new owners. The most tangible impact of the deal, for now, is being felt elsewhere around the industry. The sale of a top-15 market daily newspaper for between 6 and 7 times its annual cash flow—at a time when most analysts still believed that 9 to 12 times cash flow was the going rate—affected the prospective value of every other big-city newspaper in ways that have... More >>>
By Nick Vlcek
Did the Strib sale throw a wrench in the Tribune Company auction?