Monday, April 14, 2008

Oakland Tribune Parent Company Keeping Secrets

By Chris Thompson
Mon, Apr 14, 2008 at 7:11 AM

No story about how Dean Singleton owns almost every daily newspaper in the Bay Area would be complete without a look at his company's annual reports, which are posted with the Securities and Exchange Commission and tell a sad tale of billion-dollar debt and declining revenue. But according to the Rocky Mountain News, we won't be getting any more information about the company's finances, thanks to a deal Singleton recently cut with his creditors. Because Singleton's Medianews company is privately owned, he only had to report financial information because his bond debt was publicly owned. But Singleton's creditors have agreed to be privately informed about how the company is doing, which means the rest of us nosey parkers are shit outta luck.


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