Recall that last August the 49.5% stake McClatchy held in The Seattle Times was revalued by MNI at $10m., down from $102m. at the end of 2006.
That number is down again. It is officially zero.
In other words, McClatchy thinks the Times is worthless, devoid of value. Amazing.
Meanwhile, I am more convinced than ever that we’ll see some sort of local rescue attempt of probably just Charlotte, but perhaps MNI’s entire Carolinas operations. I mean, Ken Thompson is still perched over at Foundation for the Carolinas trying to rebuild his tattered reputation. But this will only happen after other approaches, like selling off Uptown real estate has been attempted and found lacking.
