Tampa Bay Business Journal, Tampa Bay, Poynter Institute discussed on AM Tampa Bay

Automatic TRANSCRIPT

LA now transmitting to south Tampa on FM. At one hundred two point nine FM. The Tampa Bay business journal had a great piece the other day on the Poynter institute, and what's happening with the Tampa Bay times, which is making some dramatic changes right now actually criteria joins us right now who had this story in the Tampa Bay business journal the other day, and actually it sounds like the Tampa Bay times is in some pretty deep trouble here. Well, we don't know the extent of the trouble. What we do know is that they defaulted over the summer on three loan payments to seventy five thousand dollars each. This is to two pointer institute. Right. It is to a trust that is controlled by the widow of the founder of the Poynter institute of Marian pointer was buried to Nelson Poynter who founded the Poynter institute, and he transferred the ownership of the times to that institute to ensure that it would always be locally owned and controlled now, we know that Tom Jones who wrote to sports for the times just left and went to the point or institute. And you've got a couple of guys that are going from the news portion and opinion over the sports section now. But there are a lot of changes in plus their layoffs should have been taking place in the newsroom, right? Yes. There we know that least around the lay offs that occurred. This year one was in April and was in November. Now, what happens here just gets wrapped up in the courts. How long could this process? Take your. Well, the times says they hope it can be resolved amicably. I mean, they they could pay their costs to balance the interests and remedy the loan and get out of the fault. So it could be it could be resolved tomorrow. It could it could take months. It just depends on their financial situation. Newspapers are hurting all across the country, and we've seen some that have folded already in in many major cities, and that's alternately going to happen because young people today don't read newspapers at all have spoken. The groups from ask young people does anybody really paper. Nah, we get everything online or get everything from social media. We read journals. Yeah. I think that really cuts to the heart of it. And I don't think it's just young people. I think baby boomers on down to their local newspaper. Unfortunately, they might look to Facebook and populated by posting a local newspaper, but they don't make that connection. I think people just aren't thinking about local news the way they used to they they literally think of their Facebook feed as their local store, I get I I get your stuff on online every day. And it's good stuff too. Picked up a lot of good information on the raise. And obviously I saw this piece that you had done in the in Tampa Bay business journal and just in in the short of it if you had to make a guess on how long the Tampa Bay times it's gonna last. What would you say? Oh, I don't have a crystal ball, Jack. I'm not I'm not gonna make a prediction on that. This is one of America's story Hughes paper that we're talking about. I think they've made some interesting business decisions over. The last couple of years when you look at the acquisition of the Tampa Tribune the previous loan by crystal financial, which was a lender of last resort. And then last summer the big re-financing that was financed by people like, Jeff finnick and Kiran Patel. So clearly they've gotten creative on the financing side before and I think it would be unwise to underestimate anyone think that this is going to end. But I I think these are dire times for all daily newspapers. Yeah. And they will be one of the last to go because they really are one of the better papers in the country. But Ashley, I certainly appreciate what you do. And what's Tampa Bay business journal does and I recommend anybody to grab it off. Online. Course, you can get the hard copy. But I just check it all out online because it's right there, and we'll be talking to you again soon. Awesome. Thank you so much Jack Chrysler for the Tampa Bay business journal. She's written some good stuff on transportation as well. So you went about it all wrong you set a day. And then you make an over under. You maker ask you ask you for an over under.

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