Friday, January 8, 2010

Guardian allowed to put lien on SF Weekly's parent

The Chron reports that the Bay Guardian has been granted court permission to put a lien on the assets of the parent company of the SF Weekly to satisfy a $21 million jury verdict. Randall Farrimond, representing the weekly's parent company New Times Media, says that now the Guardian will simply be treated like a limited partner, but won't get any money. The case stems over claims the SF Weekly sold ads at below cost in order to run the Guardian out of business. While the Guardian won the jury trial, it hasn't succeeded in collecting much money other than seizing a couple of the SF Weekly's delivery trucks and obtaining the right to collect rent from the Weekly's subtenants. New Times argues that a judgment in a California court can't be used to seize assets in other states, but it appears there is little stopping the Bay Guardian from going after New Times' OC Weekly and LA Weekly.

1 comment:

Fred Dodsworth said...

Going after the parent company's assets in other states isn't that big a deal. The only requirement is that the Bay Guardian engage a lawyer licensed to practice in which ever state it hopes to find the assets, and filing a suit for seizure of those assets. I was once in a similar situation, trying to seize assets in New York based on a favorable judgment I received in California (also against a publisher). It will cost the Bay Guardian but if the assets are substantial there's not any good reason not to file suit. As far as the OC and LA Weeklies, I'm surprised the Guardian hasn't already seized those papers bank accounts. Clearly Bruce's attorney's aren't working this issue very hard.