New York Times selling off TV stations en mass to keep afloat

The New York Times Co. stated after the stock market closed Thursday that it plans to sell its broadcast-media group, including nine television stations, to Robert M. Bass’s Oak Hill Capital Partners for $575 million.

Facing the prospect of further circulation and advertising declines and the growing threat of online competition, the newspaper giant said it needs to dispose of the properties to focus on core operations (the old gray lady).

“Over the years (the stations) have provided their communities with high-quality programming and have contributed significantly to our financial performance,” Janet L. Robinson, the company’s chief executive, said in a press release. “We believe, however, that our focus now should be on the development of our newspapers and our rapidly growing digital businesses and the increasing synergies between them.”
The lead investor for Oak Hill, Bass is part of the Bass family of Texas oil billionaires. His brother, Sid, recently held a large stake in Walt Disney Co. Robert Bass’s net worth is placed at more than $5 billion. Oak Hill’s committed capital stands at $4.6 billion, the company said.

The nine stations were expected to account for $150 million in 2006 sales, or 4 percent of New York Times’ overall revenue when the plan to sell was announced in September, spokeswoman Catherine Mathis said. At that time, 2006 operating earnings from the group was estimated at $33 million.

The stations are affiliates of ABC, CBS and NBC, as well as one member of the MyNetworkTV group, and are in Alabama, Arkansas, Illinois, Iowa, Oklahoma, Pennsylvania, Tennessee and Virginia. Market sizes range from Memphis to Moline, Ill. They employ roughly 900 people, Mathis said.

While a number of media companies are disposing of assets in order to cut costs, don’t expect large newspaper companies to sell off their broadcast assets en masse like the Times has, said Steven Barlow, analyst for Prudential Securities in New York.

“I wouldn’t imagine you’ll see anything from (other media companies) on that front,” Barlow said.

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Guess who is coming to dinner? The Nancy Pelosi $1000 a plate dinner?

Will your 67 year old grandmother be able to have the facelifts and eye lifts that Nancy Pelosi did on Mediacare?

“‘This old woman is quite prejudiced toward China. Therefore, (she) may bring some dissonance to Sino-U.S. relations,’ Professor Jin said.”

Actually, I hope my grandmother can afford a better plastic surgeon. Pelosi’s face now looks like the Joker played by Jack Nicholson. She must sleep with her eyes open.

180px-jokermovie.jpgpelosi.jpg

Are any union bosses and other lobbyists coming to the dinner tonight? Will Nancy Pelosi‘s high-end Piati restaurants be the official caterers? Which Napa Valley wines will be served? Will the Rev Jesse Jackson be at the table? How about Cindy Sheehan? Will the servers be union? Will the women wear burkes? Imagine how much Nancy Pelosi could have saved on face lifts if she wore a burke.

Speaking of Democrat Progressives, this would be a good time to show you the progressive income tax mirroring socialist systems in France and Germany.

The Top 1% Pay 35%

Maybe our liberal friends are onto something. They keep saying the rich should pay more taxes, and it turns out the rich already are! That’s one of the valuable lessons from the IRS’s annual study of income tax data, just released for 2004.

Americans who earned more than $1 million in adjusted gross income paid $178 billion, or an average of $740,000 per filer, in income taxes in 2004. That’s up about one-third from 2002, the year before the Bush tax cuts in marginal income-tax and dividend and capital gains rates. The wealthiest 1% of tax filers paid a remarkable 35% of all individual income-tax payments that year.

Here’s a way to think of the distribution of current income-tax payments: Imagine Nancy Pelosi’s banquet attended by 100 random Americans. If the bill for the meal is distributed like the income tax, the richest person in the room is required to pay one-third of the tab (that would be George Soros) — or more than all 50 attendees with a below-average income. The three richest people are charged as much as the other 97. And the 30 or so lowest-income people in the room — those with a family income of $30,000 or less — pay nothing and eat for free.

The Earned Income Credit, actually allows 30 lowest-income people get paid to eat, thanks to the rest of the people in the room.

Social Security, contrary to Mainstream Media reports, is a “progressive” setup too. In its case, the more you make, the less you get in retirement benefits compared to what you earned while you were working.

And the new Democrats in Congress want to make income taxes and social security even more progressive.

“According to China Daily, Jin Rong-can, a professor at the International Relations Institute of the People’s University of China, pointed out that although the House’s influence on diplomatic policies is actually limited, Sino-U.S. relations will be affected if the democratic party controls the house following the midterm election.”

“‘This old woman is quite prejudiced toward China. Therefore, (she) may bring some dissonance to Sino-U.S. relations,’ (professor) Jin said.”

“Zhang Guoqing, associate investigator at the American Institute of National Academy of Social Science, concurs: ‘The Democratic Party cares more about domestic issues. It will protect the mid- and small U.S. enterprises and American labor’s interests, and thus will have some impact on trade relations between China and the United States.”

Inside the mind of an LA Times columnist

You have to wonder why newspaper journalists seem to be so out of touch with the public. Maybe it comes down to elite, arrogant snobbishness.

Joel Stein of the LA Times writes:

I don’t want to talk to you; I want to talk at you. A column is not my attempt to engage in a conversation with you….Not everything should be interactive. A piece of work that stands on its own, without explanation or defense, takes on its own power.

I get that you have opinions you want to share. That’s great. You’re the Person of the Year. I just don’t have any interest in them.

A lot of e-mail screeds argue that, in return for the privilege of broadcasting my opinion, I have the responsibility to listen to you. I don’t. No more than you have a responsibility to read me. I’m not an elected servant. I’m an arrogant, solipsistic, attention-needy freak who pretends to have an opinion about everything. I don’t have time to listen to you.

Hello? We don’t care to digest your opinion anymore. This is the world of Web 2.0. Read up on it. You may need a new job in the next couple of years.

Remember how the Mainstream Media Ripped Apart President Ford?

I seem to remember comments like: “He is a dumb cluck and can’t chew gum and walk at the same time.” Don’t Democrats say that about all Republicans?
He’s dangerous to be around — constantly falling down.
“Mr. President — that’s your hand your signing!” What a klutz! (Gerald Ford passed up an NFL draft to go to law school). He was an avid skier through his 80s.)

“Too bad Squeaky Frum wasn’t a better shot.”

When will the “Free Squeaky” marches begin?

It’s not the medium, it’s the bias, stupid!

I just saw this piece from the New York Sun by Alicia Colon on Drudge. Ms. Colon highlights a blog that has been hidden by the mainstream media, Lucianne.com.

Lucianne exposes what I believe is the root cause of the shift of the educated middle class from the mainstream media to that of the fresh air of Web-based citizen journalists.

The Mendacity Of the Liberal Press

BY ALICIA COLON
December 15, 2006
http://www.nysun.com/article/45266

The first time I heard the word “mendacity” was in the film “Cat on a Hot Tin Roof.” I loved the way Burl Ives’s character spits out the word as something vile and unacceptable.

Unfortunately, we live in a society where untruthfulness is routinely accepted and even mandated by politicians, union leaders, and members of the press. New York is the headquarters of the biggest producer of mendacity, the New York Times. Fortunately, it’s also the home of the antidote, Lucianne.com.

I pity the Americans who do not have the computer expertise to access the exposés of lies of corrupt politicians and gullible television anchors, biased newspaper headlines, and anything from the Associated Press. If it were not for the Internet and Lucianne Goldberg’s Web news forum, I would never learn the truth behind the Times headlines as pitched by the Drudge Report.

Matt Drudge, who may or may not be a willing accomplice to the distortion of news reporting, must be held responsible for the dissemination of the bias in the liberal press. Studies have shown that the readership of the Times is down — as it is in other liberal publications — and so are the television ratings of the alphabet networks and CNN and MSNBC, while Fox News is up. Continue reading

Convenient Liberal Fabrications — Overwheliming bias in the media regarding global warming

What about Greenland actually being green during the Medieval warming? Didn’t we have a couple of Ice Ages? Doesn’t the Kyoto Treaty just punish developed countries, giving a free pass to pollute to China and India?

Get your copy of “The Skeptics’ Guide to Global Warming,” linked below.
See how Al Gore is pressuring public school science teachers to legitimize “An Inconvenient Truth

Mick Gregory

The Medieval Warm Period (MWP) was a time of unusually warm climate recorded in Europe, lasting from about the 10th century to about the 14th century. This inconvenient truth is being written out of the liberal’s Big Brother/Big Sis political propaganda to inact more control and taxing authority over free enterprise, espically in the U.S. The Al Gore political machine tried to have 50,000 copies of his movie distributed through the public schools through his executive producer, Ms. Laurie David. When the National Science Teachers Association (NSTA) refused the unusual request, The Washington Post let her write an Op-Ed piece complaigning about it.

NSTA Statement on the Distribution of “An Inconvenient Truth”
Nov 30 2006
Last updated 12/7/06

Over the past few days, NSTA and film producer Laurie David have been discussing her offer to provide NSTA with copies of the DVD “An Inconvenient Truth” to mass distribute to our members. On November 29, 2006, NSTA’s Board of Directors held a telephone conference to review Ms. David’s request. In an effort to accommodate her request without violating the Board’s 2001 policy prohibiting product endorsement, and to provide science educators with the opportunity to take advantage of the educational opportunities presented by films such as this, NSTA has offered to greatly expand the scope of the potential target audience identified in her initial request.

NSTA established its non-endorsement policy to formalize our position that the association would not send third-party materials to our members without their consent or request. NSTA looks forward to working with Ms. David to ensure that there are many options for publicizing the availability of the DVD to the national science education community, and to broaden the conversation on the important topic of global warming.

Professor David Deming, an author, scientist and lecturer at the University of Oklahoma and an adjunct scholar with the National Center for Policy Analysis (NCPA), testified Wednesday morning at a special hearing of the Senate Environment and Public Works Committee. The hearing examined climate change and the media. Bellow are excerpts from his prepared remarks. Continue reading

Thank heaven for bloggers’ reports on Citgo, 7-Eleven, Foley page setup, now elite media spying on journalists

——Mick Gregory

Now a blogger sheds light on the Foley gay outing story. The young man is 21, he was 18 at the time of the IM gross exchanges.

William Kerr, of Moore, Oklahoma is the author of the blog Passionate America, which is being credited with discovering the identity of the former House page who may have exchanged inappropriate instant messages with former Rep. Mark Foley, and that the former page now works for Oklahoma gubernatorial candidate Ernest Istook.

Kerr said he received e-mails and phone calls from national media outlets Wednesday, including the tabloid television program Inside Edition and Internet pundit Matt Drudge.

“I started thinking, ‘I’m not big enough to put this story out,’” Kerr said. “In the four days that we really worked on this, we just said to each other, ‘Do you know how big this is?’”

Kerr said he stumbled onto the former page’s AOL screen name when looking at transcripts of the instant messages on ABC’s Web site Saturday.

He said he typed a slightly-different Web address into his browser and found a version of the transcript with the screen name.

Kerr and another blogger spent several days researching on the Internet.

They had determined the page’s identity and were about to publish it when they found out he worked for Istook.

Kerr said he accidentally posted the story before he intended. Although he removed the post, the information already had spread.

He tried to verify the former page’s identity through Istook’s campaign office, but was turned away. Great work! This is turning out to be the Democrats’ October surprise.

Last week we learned on the network news about 7-Eleven dropping Venezuela-backed Citgo as its gasoline supplier after more than 20 years. This news has been posted on blogs for a month.

Management at 7-Eleven were worried anti-American comments made by Venezuelan President Hugo “Boss” Chavez might prompt motorists to fill up elsewhere. The 7-Eleven chain, which sells gasoline at 2,100 of its 5,300 U.S. stores, will now purchase fuel from several distributors, including Tower Energy of Torrance, Calif., Sinclair Oil of Salt Lake City and Houston-based Frontier Oil Corp. None of the gas will be from Venezuela.

Today we see that Citgo’s el presidente, Felix Rodriguez, appointed by Hugo Chavez, is making statements to Spanish television stations such as Univision that it was Citgo’s decision to drop 7-Eleven! That’s what 7-Eleven management gets for trying to downplay their decision.

The reality of the situation is that Hugo ‘the Hut’ Chavez signed a huge deal to sell oil to China and would like to keep the price per barrel as high as possible and try to ruin America’s economy. Hugo ‘the Hut’ would also like to be able to stop shipments of oil to America.
In another developing story, reporters attack HP for possibly spying on their managers and directors including the use of private investigators.
HP executives had to appear before a congressional hearing yesterday to explain themselves.

Yet, the San Francisco Examiner hired private investigators to follow reporters and used the evidence compiled to fire them. The Examiner staff, now merged with the San Francisco Chronicle, have their e-mails monitored and their Web use watched. The use of private eyes is most likely still in use. Those stories never see the light of day in the press.

Most IT companies monitor employee e-mails and Web use. Many use private investigators, but they are not the “high and holy” media. The media elite believe they are above the law.

And it’s The Chronicle editors telling the U.S. courts they have the right to leak (and profit from) grand jury content in the BALCO case.

Michael Rains is Bonds’ attorney. He pointed out in a rebuttle to The Chronicle reporters trying to use the courts to shield them, that Barry’s trainer and boyhood friend, Greg Anderson, has been found in contempt of court twice for refusing to testify and is in jail for a second term. Anderson, who earlier served three months after pleading guilty to steroid distribution and money laundering, has refused to tell the court whether he gave Bonds steroids. At issue is whether Bonds lied under oath when he told a grand jury in 2003 that he never knowingly took steroids.

Anderson’s testimony appears to be key to making a successful perjury case against Bonds.

They (the Chronicle reporters) need to be in jail,” Rains said of the reporters, whose work cast Bonds as a steroid-enhanced cheat.
“Other media people, of course, take exception with my attitude about that; but I say unless they go to jail, you make a complete mockery of the grand jury system. Since when can anybody declare that the purpose of our dealing with this issue has a larger purpose, and that is to educate the public?

“How can these guys sit there and say, ‘Oh, yeah, we’ve convinced kids in the Central Valley that they shouldn’t take steroids. And look at all the good that is coming.’

Come on, give me a break. This is all about money. It is all about a newspaper that was having financial problems. It is all about them making dough and how much they can make [from the book smearing baseball greatest players].”

Follow the money.