LAT's Gold jumps to Washington Post
Annual issue is out this week
Sigh - this is the same U-T newspaper that ran a venomous anti-Obama editorial over the weekend, the same paper that's hosting an event for Republican Party candidates tonight, the same paper that is quickly becoming an embarrassment for the city of San Diego. And now, the empire has gotten bigger - U-T owner Doug Manchester is buying the North County Times from Lee Enterprises for $12 million. That's not much to pay for a newspaper, a sad reflection on how valuations have been plummeting in recent years. Low asking prices bring in Neanderthals like Manchester, who had been interested in the OC Register before it was purchased by an East Coast investor group. I suspect you'll be seeing more of these vanity purchases - the price is right and what better way to gain the limelight than owning a media property? From the North County Times:
The North County Times serves northern San Diego County and southwest Riverside counties with daily and Sunday editions, along with Web, mobile and tablet news and advertising at www.nctimes.com, and californian.com . Its printed editions include The Californian, serving Temecula. For the 52 weeks ended Aug. 26, 2012, the North County Times had revenue of $27.6 million and operating cash flow, excluding unusual matters, of $0.8 million, Lee officials said in a press release. Sales proceeds will be used to reduce debt of Lee. In a statement, Manchester said, "We are excited and honored that the North County Times and Californian will become a part of our vision to better serve San Diego and Temecula through a multi-platform strategy."
Here's a snippet of the disgusting editorial:
We predict Israel will be attacked by the surrounding Arab terror states as the U.S. retreats from Israel's defense. Israel's very existence will be in jeopardy. We predict that, with Obamacare, if you are over 65 a ride to Mexico will become commonplace, as there will be rationed care in the U.S. Death panels and other rationing plans will limit care. As Obama's war on God and life continues, we predict an effort to have late-term abortions paid for by taxpayers - even at a time when more than 60 percent of America believes there should be restrictions on abortion. We ask: Who stands for the life and rights of the child? We even predict an effort to get "In God we Trust" removed from U.S. symbols, including our money.