Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.


MEDIA DESTRUCTION WATCH….Felix Salmon reports that the latest auction of defaulted Tribune Company bonds produced dismal results:

Much more startling is the price on the senior secured loans: just 23.75 cents on the dollar. I checked in with Nishul Saperia at Markit, and he said that it was the lowest recovery rate he’d ever seen for a secured loan….

I should imagine that today’s news has been greeted with a shudder at the Chicago Tribune, the LA Times, and other Tribune properties: clearly no one on Wall Street thinks they’re worth much even without the huge pile of debt that Sam Zell loaded onto their fragile shoulders. Is David Geffen still interested in buying an uneconomic trophy property? He could turn out to be many employees’ final hope.

I wonder how much longer I’ll be getting a newspaper delivered to my driveway each morning?

KEEP MOTHER JONES CHARGING HARD

You're busy, so we'll keep this short: We need to raise $325,000 over the next month to help fund the hard-hitting, fiercely independent reporting you get from us. It's a pivotal moment for our democracy, accountability, and so much more—but you already know that, you just read a Mother Jones article. If you can right now, please consider supporting our work with a donation so we're ready for the hard work ahead.

payment methods

KEEP MOTHER JONES CHARGING HARD

You're busy, so we'll keep this short: We need to raise $325,000 over the next month to help fund the hard-hitting, fiercely independent reporting you get from us. It's a pivotal moment for our democracy, accountability, and so much more—but you already know that, you just read a Mother Jones article. If you can right now, please consider supporting our work with a donation so we're ready for the hard work ahead.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate