Comments on: Deal in works to keep East Valley Tribune alive

By: Court approves East Valley Tribune sale, layoffs will hit in ‘next two days’ | Heat City

Wed, 10 Mar 2010 03:18:31 +0000

[...] than three weeks later, Miller emerged as a possible buyer of the newspaper, and Freedom agreed to keep the presses running until a deal [...]

By: Name

Name — Sun, 22 Nov 2009 18:20:50 +0000

Rob, it would be the land that makes it worth so much – not the roach intested, hodgepodgey building.

By: Rob

Rob — Sun, 22 Nov 2009 08:18:02 +0000

“Moreno also said it is possible the Tribune’s downtown Mesa building – a property assessed at close to $7 million – will not be part of the deal.”

That roach infested POS is worth 7M?

By: The Truth

The Truth — Sat, 21 Nov 2009 04:36:51 +0000

I'll have to disagree “Tru” – Freedom carries very little weight, and the company is no longer solely in control of sellling any of its assets since it filed for bankruptcy. Any deal they attempt to make will have to be approved on numerous levels (bankruptcy judge, creditors, lenders, purshcasing party) in a short period of time.

I do agree however, that creditors might object.

Approval of the sale will only occur if the money raised is of equal or more value to all the property involved(press, vehicles, etc…) that would be otherwise sold off after the newspaper is shut down.

Just don't eat up the words of Julie Moreno or other Tribune execs – they no longer have the final word, nor much credibility in light of their bonus scam.

By: Tru

Tru — Fri, 20 Nov 2009 22:11:13 +0000

Actually, “The Truth” is not entirely correct. Freedom's endorsement of this transaction carries a lot of weight. Of course, the judge is the final decision-maker, but the fact that Freedom is willingly entering into a transaction will weigh heavily in the judge's decision. Also Freedom and the lenders seem to be on the same page — it's the unsecured creditors that might object.

By: tdhurst

tdhurst — Fri, 20 Nov 2009 22:08:47 +0000

Why…the business model needs to be changed. Throwing more money at the problem doesn't help anything.

By: The Truth

The Truth — Fri, 20 Nov 2009 21:49:22 +0000

Whether or not a deal will be approved has nothing to do with Freedom or Tribune execs. All they can do is present the offer to the bankruptcy court handling the case for evaluation.

Ultimately, the bankruptcy court and Freedom's lenders would have to concur that the amount of money being offered up for the press, and all other physical assets of the Tribune included in the proposed sale, is an acceptable sum of money. It can be reasonably concluded that unless the offer in the proposed sale clearly eclipses what Freedom's lenders value the press and other assets at in an open market, that a sale would not happen.

There's no way any sort of bargain or discount deal would be permitted.