Boston Globe Scoops the Herald on Herald Sale

February 15, 2018

For the past several months, the Boston Globe has been playing catch-up to the Herald in covering the sale of the feisty local tabloid.

Today the Globe caught up.

Under the unusual byline “Globe Staff,” the stately local broadsheet reported the details of yesterday’s bake sale.

Bidding for Herald jumped by millions at auction

Digital First Media is poised to become the new owner of the Boston Herald after besting competitors with multiple higher bids during a bankruptcy auction Tuesday that netted nearly $12 million, according to newly filed court documents.

A transcript of the auction held in the office of Herald law firm Brown Rudnick revealed that Digital First opened with a bid valued at around $7.6 million — higher than the offers already in place from two other competitors, GateHouse Media and Revolution Capital Group.

After GateHouse countered Digital First with a slightly higher offer, Revolution Capital dropped out, leaving the two competitors to trade bids several times until Digital First’s final offer proved too rich for GateHouse, according to a transcript of the auction filed with bankruptcy court in Delaware.

 

And Digital’s final offer? “The Denver-based company, which owns daily and weekly newspapers in Colorado, California, Massachusetts, and several other states, prevailed with a final offer of $9.6 million in cash, $1 million in accrued paid time off to employees, and another $1.4 million in assumed liabilities.”

Crosstown at the Herald, reporter Brian Dowling didn’t have those numbers, but he did spotlight what exactly that breakdown means.

This year, the pension, severance and retirement payments to employees were estimated to reach $3.5 million, according to court papers. The pension, severance and retirement accounts had accrued nearly $25 million in liabilities when the company filed for bankruptcy.

 

Obviously $2.4 million isn’t gonna put much of a dent in that. Dowling also reported that Boston Mayor Marty Walsh is “urging Herald ownership to strike a deal to save workers’ pensions.”

All due respect, Mistah Mayah, the corn is off the cob – unless the bankruptcy judge steps in to change the deal. We’ll find out tomorrow.

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Who Knew the Boston Herald Was Worth $12 Million?

February 14, 2018

Eat your heart out, Mort Zuckerman.

Back in September, the real estate magnate sold the legendary New York Daily News to Tronc (rhymes with bonk) for exactly $1 – 50¢ less than the price of the paper’s Sunday edition.

(To be fair graf goes here)

To be fair, Tronc did assume $30 million in operational and pension liabilities, but hey – a dollar’s a dollar, yeah?

Boston Herald owner Pat Purcell, on the other hand, scooped up a helluva lot more in yesterday’s bake sale of the shaky local tabloid.

From Brian Dowling’s piece in today’s edition of the soldy local tabloid:

Digital First Media enters $11.9M top bid for Boston Herald

Digital First Media won the Boston Herald in a 5-hour bankruptcy auction with a top $11.9 million bid that all but settles who will carry the news organization into the next chapter of the city’s media history.

The newspaper company, which operates as Media News Group and owns hundreds of publications across the country, including the Denver Post, bested two other suitors — GateHouse Media and Revolution Capital. Digital First also owns the Lowell Sun and the Fitchburg Sentinel & Enterprise in Massachusetts.

 

But that doesn’t mean it’s all roses and lollipops at Fargo Street. As the Boston Globe’s Jon Chesto reports, Digital First Media “has earned a reputation for relentless cost-cutting” – not a good omen for the Herald rank and file.

And, as our kissin’ cousins at One-Daily Town recently noted, Digital First just ditched the Sentinel & Enterprise’s brick-and-mortar home for a “virtual newsroom.”

So maybe you Heraldniks might want to bring some of your personal items home.


Tom Brady’s TAG Heuer Ad Yesterday Was Bad Timing

February 6, 2018

From our Late to the Party Pooper desk

Despite the Boston Globe’s delivery discombobulation yesterday, the hardreading staff was nonetheless remiss in failing to point out this ad in the lately local broadsheet’s Sports section.

 

 

Uh-huh.

Oddly enough, #DontCrackUnderPressure contained exactly zero tweets about Brady’s, well, cracking in Super Bowl LII.

Which says something about either 1) the effectiveness of Tom Brady’s PR machine, or 2) the lack of effectiveness of newspaper ads.

Or maybe both.


Boston Globe Joins Herald in Running Sneak Adtacks

February 5, 2018

As the hardreading staff noted the other day, the Boston Herald has of late increased the amount of its “sponsored content” while decreasing the legibility of its disclosure.

Now the Boston Globe apparently wants to join the stealthy local tabloid in profiting from ads in sheep’s clothing, running this on A12 of today’s edition. (Here’s the digital version on the Globe website.)

 

 

(To be sure graf goes here)

To be sure, sharp-eyed observers will pick up that it’s actually an ad, but not everyone is as perceptive as you, splendid reader. For some, anything with a headline and a byline qualifies as editorial content. Which is exactly what stealth marketing counts on.

Regardless, we’re guessing that the revenue-impaired Globe and the bankrupt Herald will increasingly turn toward this sleight-of-ad as time goes on.

We hope, of course, to be proven wrong.


Even Ashton Kutcher’s Kids Blow Off Boston Herald

January 25, 2018

From our Local Dailies DisADvantage desk

The other week it was Nike plastering Kyrie Irving all over the Boston Globe and rejecting the Boston Herald.

Adding insult to financial injury, Ashton Kutcher’s two kids do the same today in this full-page salute to their Mom for being chosen Hasty Pudding’s Woman of the Year.

 

 

Two things:

One, do they really call their mother by her first name?

And two, we’re not ashamed to say we had to Google Wyatt and Dimitri to figure out who ran the ad.

As for the thirsty local tabloid, maybe Mila Kunis could carry a copy in Hasty Pudding’s traditional parade, which starts in roughly ten minutes despite multiple protests by students and feminists.

Via Google:

 

 

Missed by a Mila, huh?


Kyrie Irving & Nike Blow Right By Boston Herald

January 6, 2018

From our Local Dailies DisADvantage desk

The hardreading staff is sorry to say that this is the third time in a week we’re reporting from the LDD desk. (See here and here.) We fear we’ll soon be yielding to our kissin’ cousins at One-Daily Town.

But until then . . .

The Sports section in today’s Boston Globe features this two-page spread.

 

 

With a slight detour through Cleveland, of course. But no stopping at the Boston Herald.

While we’re on the topic of Nike and Irving, here’s the new TV spot he directed and stars in.

 

 

Gronk, Sun Tzu, flat earth, plant-based diet – totally memelicious, as SB Nation’s Tim Cato chronicles.

None of which, however, does any good for the thirsty local tabloid.


JetBlue Union Pilots Give Boston Herald the Air

January 5, 2018

From our Local Dailies DisADvantage desk

For several years now, JetBlue Airways Corporation has had an interesting tagline attached to its logo.

 

Except not you, JetBlue pilots.

According to an Air Line Pilots Association press release, JetBlue has experienced five straight years of earnings growth, but its pilots have gone almost three years without a contract.

Through the first nine months of 2017, JetBlue has reported over $751 million in pretax profit (a 14.3 percent margin), bringing the total to more than $2.5 billion over the last two years since the pilots have been negotiating with the company. Meanwhile, the pilots are still without their first contract since unionizing in 2014, and without market-rate pay.

 

Consequently, the pilots have 1) filed for mediation from the National Mediation Board, and 2) started running this half-page newspaper ad – yesterday in the Boston Globe, today in the New York Times, but not at all in the Boston Herald.

 

 

At its website, the JetBlue pilots have a clever slogan and a count-up clock.

 

 

No doubt the thirsty local tabloid would settle for Ad Contract Above All.