If you get past the financial hurdles, the combination of Tronc's 10 papers (including the Chicago Tribune and Baltimore Sun) and McClatchy's 30 (including the Miami Herald and Kansas City Star) makes all kinds of sense.
McClatchy stock has lost almost all its value to investors. Its market capitalization sits at a low $69 million. And refinancing of the company's $794 million debt consolidated more lending control in the hands of a longtime creditor.
The newspaper industry won an important victory in the International Trade Commission today, voiding so-called "dumping" penalties that had raised the price of Canadian newsprint as local papers are facing huge financial challenges.
Quartz had reason to break out the party hats Monday as the six-year-old venture was sold upstream by Atlantic Media to a similar Japanese business site in a deal worth at least $75 million and up to $110 million if it hits performance targets.