Media Destruction Watch

For indispensable reporting on the coronavirus crisis, the election, and more, subscribe to the Mother Jones Daily newsletter.


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?

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

Dear Reader,

This feels like the most important fundraising drive since I've been CEO of Mother Jones, with staggeringly high stakes and so much uncertainty. In "News Is Just Like Waste Management," I try to unpack the reality we all face and how we can rise to the challenge. If you're able to, this is a critical moment to support Mother Jones’ nonprofit journalism: We need to raise $400,000 to help cover the vital reporting projects we have planned, and right now is no time to pull back.

Monika Bauerlein, CEO, Mother Jones

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