In case anyone is still wondering about the management shakeup at MediaNews, it’s been taken over by a hedge fund since it’s bankruptcy restructuring and there’s a new management putting it’s own people in charge.
Dean Singleton is out as MediaNews’ CEO, but the good news is that he will remain with the company as executive chairman as well as publisher of The Denver Post and The Salt Lake City Tribune. His longtime sidekick, and former CEO-heir-apparent, Jody Lodovick is gone. And three directors of the MediaNews board have been replaced.
It’s pretty much the way it goes with these deals. Singleton, who had always run MediaNews, now works for Alden Global Capital. Alden is part owner of another newspaper company wrung through the bankruptcy process, Freedom Communications.
The Wall Street Journal reports the two companies may be merged, and Singleton hints at opportunities for consolidation.
(FYI: I have been employed by both Freedom and MediaNews, and I can only wish these companies the best in these difficult times. Singleton, especially. He’s the one who gave me the opportunity to launch my column and blog, as well as his top editor, Greg Moore. They usually published whatever I wrote, even if they had to do it with a grimace. And now that I’m at Dow Jones, they still run it.)
Singleton may be down, but he’s not out. He still owns part of the company.
Michael Roberts of Denver’s alternative weekly Westword has reported the best interview of Singleton, so far. Click here to read Robert’s interview with Singleton.
And click here to read more in The Denver Business Journal.
(PHOTO: Al Lewis and Dean Singleton at the Society of American Business Editors and Writers conference in Denver, April 2009.)