Morris Publishing, Owner of the Log Cabin Democrat, to Explore Options

thecabinOminous signs in Conway, where the Log Cabin Democrat’s owner, Morris Communications, says it has hired financial adviser Lazard Freres & Co. LLC (the same firm that advised Tribune Co. as it filed for Chapter 11 bankruptcy protection) and another firm to “assist us in evaluating our strategic options regarding Morris Publishing’s existing capital structure.”

The company is apparently not commenting beyond the news release, according to Editor & Publisher. Arkansas Business has an article on the move here.

The family-owned firm is the parent of 13 dailies, including the Log Cabin Democrat, which it purchased in 1994. Morris has been buckling under the pressure of enormous debt. Recently, sources confirmed to Arkansas Business that Democrat employees stopped receiving 401(k) contributions from their employer.

The newspaper has daily circulation of about 10,253, according to Arkansas Business’ most recent list. It also boast a particularly robust Web site for a newspaper its size, with blogs, photo slideshows, video, podcasts, niche sections — and it even Twitters here.

More

Arkansas Newspapers Feel the Squeeze [Arkansas Business]

The Cabin’s history, according to Morris

Also

The four-year old Marion Salute newspaper, going out of business, according to the APA (PDF).

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2 Responses

  1. […] Posts Morris Publishing, Owner of the Log Cabin Democrat, to Explore OptionsUPDATE: Springsteen at the Super BowlArkansas Twitter GuideAboutKristin Fisher to Leave KATVThe […]

  2. […] (minutes We noted last week that Morris Publishing, which owns Conway’s Log Cabin Democrat, had retained two firms with bankruptcy experience and planned to explore “strategic options,” which, of course, could mean a sale of […]

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