The Star-Tribune in Minneapolis this week posted an article about their parent company's distress with the purchase. They have had to mark down the value of the company by quite a bit.
Here are recent market values of the paper.
1998 = $1.2 B when it is bought by McClatchy
2007 = $580M when sold by McClatchy
2008 = #225M as marked to market by Avista, including the market value of the debt.
I'd even suspect that the marked value might be a bit high, given the market values of public comparables.
Thursday, May 8, 2008
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