- “Although Media News has been pursuing cost efficiency measures for some time and expects to achieve additional cost savings in future periods, revenue declines have outpaced cost cuts during the past few quarters."
Friday, October 5, 2007
Philip Stone of Follow the Media questions whether MediaNews chief executive Dean Singleton (pictured) would buy the Mercury News, Contra Costa Times, Monterey Herald and St. Paul (Minn.) Pioneer Press if he had a chance to to it over again. He cites some evidence that suggests Singleton may have buyers remorse. Stone also warns that MediaNews will be doing more cost-cutting as a result of a negative report from the credit agency Standard & Poor's (see item below). Stone quotes S&P analyst Emile Courney as saying:
Posted by San Francisco Peninsula Press Club at 8:38 AM