"I read today's briefing, what's going on with the Miami Herald? And what's the news over the Chicago Tribune News Agency?"

Andy took a small mouthful of coffee and asked after seeing Al alone in the conference room in the video window.

"Due to debt, newspaper giant McLatche Press Group intends to sell its key member, the Miami Herald, who contacted all buyers interested in the newspaper industry.

As for the forum newspaper companies, based on the information we have collected, they will file for bankruptcy protection at a later date. However, this bankruptcy protection application should be aimed at restructuring the company's debts and will not affect the normal operation of the newspapers and TV stations under its company."

Al explained to Andy that he knew very well that his boss valued the media industry. Although the current print media is very sad, layoffs, sellers, and bankruptcies, these century-old newspapers cannot be ignored or underestimated.

Even though the market squeezed by the current Internet shrinks, advertising revenue plummets, and survival is unsustainable, it has to be admitted that in the face of various news and news, the credibility and influence of these brand newspapers are still the first choice for the people to choose to distinguish the truth.

The advantages of the Internet are undoubtedly fast, rich in information, and the most important thing is free. This is undoubtedly unmatched by traditional paper media, but it also makes various information flood the Internet, making it difficult to distinguish between true and false. This is also the biggest problem and flaw of the Internet.

Al also knew that his boss was also reforming several newspapers in his hands. The newspapers and magazines published did not compete with the Internet for news update speed, but interpreted the news more deeply to help the public distinguish and understand the real events, rather than just a few simple lines of words on the Internet. The speed was very fast, but it also made people who read the news unclear.

Judging from the current operation of several newspapers, the reform is very successful. Even if it is a loss, it is only a few million US dollars. For Andy, such a small amount of money is acceptable. After all, in the current economic environment, it is difficult not to lose money.

This is why Andy dared to acquire newspapers and newspapers of high-quality brands when the traditional newspaper industry was in a downturn and was on the decline. Rather than buying newspapers, Andy bought the credibility and influence that the people instinctively believed.

In 2007, the forum company was acquired by American real estate tycoon Samuel Zell with a high leverage debt-raising financial operations and employee stock plan. It was a standard acquisition game that made money by making money. After the acquisition was successful, all the borrowings were transferred to the forum company, and its current debt has exceeded 12 billion US dollars.

Rating agency Standard & Poor's downgraded the debt rating of the forum company to junk last month, saying the financial crisis would hinder the group's assets and the amount of funds collected was also restricted.

The Chicago-based Forum Company has been established for 161 years, and is the second largest newspaper group in the United States in annual revenue and third largest total circulation. Its Los Angeles Times and Chicago Tribune rank fourth and eighth in sales in the United States.

Andy has been staring at the forum companies' main purpose, which is to take a look at the Los Angeles Times in their hands. If he wants to become another Wasserman in Hollywood, he must get the newspaper with the greatest influence in California.

"The Los Angeles Times has been surviving in unstable conditions over the past year. It has reorganized its editorial department twice, replaced editorial directors, and forced layoffs. At the same time, its parent company's debt has not improved, and their advertising revenue and sales have dropped sharply.

Boss, if you want to acquire the Los Angeles Times, the funds you will need to be about 200 million to 400 million US dollars." Al introduced.

"Hmm?" Andy frowned and looked at Al in disbelief and asked, "Why is the funding range so large?"

"Located in the golden corner of the downtown, adjacent to the Town Hall, the 80-year-old Los Angeles Times building is a key bargaining chip and the main reason for the large acquisition funding range. In the briefing, I suggested that the boss consider the Miami Herald, the main reason that this newspaper also has a headquarters building in a superior location in Biscayne Bay.

And the Miami Herald, which only has $220 million, will be able to offset most of the acquisition funds if real estate recovers in the future."

After hearing Al's analysis, Andy sighed with emotion. It has to be said that this is a very sad thing. The bleak situation of the newspaper industry is that their physical office buildings are likely to be much higher than the newspaper itself. If the building happens to be located in a middle-class high-level community, then its value can be doubled.

The Los Angeles Times and the Miami Herald undoubtedly have a very valuable headquarters building, and the United States is now in the period of the bursting of the real estate bubble, and the valuations of these buildings have been completely suppressed.

Andy touched his chin and fell into thinking. The Miami Herald was founded in 1903 and is the second largest newspaper in South Florida. In addition to Florida, it is also distributed to the entire Latin America and the Caribbean, with more than 800 employees.

The brand value is unquestionable. To be honest, Andy doesn't take it seriously for the price of more than 200 million US dollars. For him now, these are small money, just like a person with a huge sum of hundreds of dollars into the '2 yuan store' to buy things, and he will never care about spending 2 yuan.

What's more, it's great value for money. Since Al believes that their headquarters building is of high value, there must be a big advantage to make. Andy absolutely believes in the judgment of Al, the chief think tank.

"Then let's send someone to contact McLatche Newspaper Group for negotiations. I will fly to Miami before November 6th, and then complete the transaction. By the way, I will send someone to contact the forum company and tell them that I am very interested in the Los Angeles Times. As a Los Angeles man, I know very well that Californians hope that this newspaper can be returned to the hands of locals..."

Al's face was expressionless, but the corners of his mouth were still unnaturally pulled. There are all kinds of strange reasons for his boss. Boss, you seem to be from New York, right? Are you from Los Angeles who live in Los Angeles?

"Okay, boss, I will arrange for someone to contact the other party immediately. The Herald is not a big problem. The McCrach Group is really going to sell it and is eager to get back the funds and get rid of the debt. However, the Los Angeles Times may encounter some trouble. Although Samuel Zell has failed, he may not easily admit defeat after all, after all, he just acquired the forum company."

"Then let go of the news that I intend to acquire the Los Angeles Times and let his creditors force him to make a choice. I want to see that even though I have the opportunity to pay back the money, I want to apply for bankruptcy protection. Creditors such as Barclays and MG Chase will kindly wait for several years to help him get rid of bankruptcy!"

Andy said calmly about the possible troubles. For forum companies that owe a pig debt, they don’t need to go up and ask for bankruptcy. The most difficult thing is the banks that lent money to Samuel. Now there is a chance to get the forum companies to exchange for the first interest. They will definitely not make Samuel have a good time.

"I understand, boss." Al nodded, "Boss, when will Starbucks' acquisition plan be launched?"

"When I finish the work in France, you can start here, just dry GE first. Didn't they always think that I'm going to eat? Haha, I'll change my acquisition target and see if they're anxious!" Andy sneered.

Al, who received a clear answer, nodded. He still admired his boss's decisions. He was patient and decisive, and would not be blinded by temporary gains and losses. This appeared in a young man in his twenties, which was undoubtedly very surprising, and he was beyond his age.
Chapter completed!