Breeze sale in works for years

Say what you will about Dean Singleton, but the guy is persistent. He's finally getting his hands on the Daily Breeze through a complicated transaction involving Hearst Newspapers. It's a paper he's had his eyes on for almost 10 years, going back to when he started bulking up on other Socal newspaper properties, including the Daily News. In early 1998, he actually had been in talks to purchase all of Copley Press Inc.'s holdings - including the Breeze and the Santa Monica Outlook - but those talks broke off just weeks before Copley shuttered the Outlook and San Pedro News-Pilot. Thomas Wafer, who was Copley Los Angeles Newspaper's publisher, laid out the particulars in a 1998 interview with the Business Journal: "As you know, they tried to buy us. We weren't interested at all in selling. We would have been happy to sell the Santa Monica Outlook by itself, and we offered, but he only wanted the three-paper group."

The 23,000 circulation Outlook was around for 123 years and had been a reliable voice for the Westside, but towards the end it was only modestly profitable. (When Copley bought the Outlook in 1983, it was in bad financial shape.) After the Singleton talks collapsed in 1998, Copley decided to close ranks by shutting down the Outlook and merging the Breeze and News-Pilot. But in the midst of an increasingly tough newspaper environment, the consolidation and cost-cutting only delayed the inevitable. Now the cost-cutting really begins. Here's today's Breeze story on the sale to Singleton (through Hearst).

12:40 PM Friday, December 15 2006 • Link
Email or share:
© 2003-2008   •  About LA Observed  •  Contact the editor
LA Biz Observed
4:49 PM Fri | Forget plastics, the real action these days is arranging going-out-of-business sales.
4:10 PM Fri | Louis Verdad was one of L.A.'s hottest designers, but he had little idea of how to run a business.
Native Intelligence
TJ Sullivan | Without referencing its recent layoff, the Ventura County Star's editor says the suburban LA paper is now "more streamlined and, in many ways, much more efficient."
Deanne Stillman | We stripped the Indians of their ponies, and now we're doing it to ourselves.
TJ Sullivan | When the sun looks like that, there's a big fire somewhere regardless of whether we see or smell smoke.
Bill Boyarsky
Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Jenny Burman
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
Here in Malibu
Making our bed, lying in it.
Sponsors
Jewish Journal logo
California Wellness Foundation
Playa Vista ad
Premium Blogads

 
Books, Blogs & Events