414 replies to this topic

[VicHockeyFan]

The loss in the first nine months of 2017included income of $1.7 millionfrom Blue Ant and a gain of $1.1 millionat NestWealth offset by a loss of $2.9 million from Black Press

 

 

https://www.torstar..../2017/Q3/Q3.pdf

 

They own 19% of Black Press.

 

So if I interpret that right, then BP lost about $14.6M in the first three quarters? 

Edited by VicHockeyFan, 10 December 2017 - 09:29 AM.

[Sparky]

I count 140 newspapers in the Black Press stable.

 

On average they are loosing over $100,000.00 per paper per year. 

 

You would think that they have other things to focus on as opposed to frivolous lawsuits. 

[Rob Randall]

 You would think that they have other things to focus on as opposed to frivolous lawsuits. 

 

Companies are obligated to protect their intellectual property, whether it's a newspaper, a music publisher or a coffee empire keeping an eye on a pot shop planning on calling itself "Starbuds". 

 

I like how Black Press is portrayed both as a powerful bully Goliath and a desperately weak paper going down the toilet.

Edited by Rob Randall, 10 December 2017 - 11:44 AM.

[VicHockeyFan]

A complicating factor is that they never have and do not charge readers for use for their intellectual property, either in physical print, or online.

[shoeflack]

Is BP suing these three people, or even banning them from their page?  Nope.  Because some shares are good, some are bad I guess.

Right, because directly sharing a Black Press article on a Facebook feed is the same this as taking a piece of that article, running it own your own site with your own ads, and only then providing the link. The two are not even remotely comparable VHF.

This isn’t about simply sharing the article. It’s about the fact that VBCT takes snipets of copywriten material, slaps some ads on it for their own gain, and then sends you off on your merry way to the original article.

These three shares aren’t getting sued because they are sharing the actual article, not sending their friends to some third party site to get some guy in Victoria some ad revenue before they go to the actual article.

The echo chamber is strong in this thread.

[VicHockeyFan]

Read back a few posts.  Rogers took Glacier content, and used if for their own gain, in order to "retain" radio listeners.  In turn Rogers sells radio airtime to companies.  No lawsuits.

[Mike K.]

This isn’t about simply sharing the article. It’s about the fact that VBCT takes snipets of copywriten material, slaps some ads on it for their own gain, and then sends you off on your merry way to the original article.

You’ve just described exactly how Facebook’s article linking works. They call it sharing, but they take a snippet of your article, the headline, even your image. They then display all three to their visitors, slap ads on the page, and then send you off to view the article if you’d like (but about 80% WON’T click through and will have only consumed the snippet, the title and the image on Facebook).

[VicHockeyFan]

So does Google, right... VBCT does not use the original image, or the headline.  Google does.

 

Edited by VicHockeyFan, 10 December 2017 - 12:49 PM.

[VicHockeyFan]

December 11th is the annual make goofy headlines day at BP.

 

 

 

 

 

Edited by VicHockeyFan, 11 December 2017 - 06:20 PM.

[Sparky]

From High to Low.......lookout below.

 

Here is an interesting story worthy of a question.

 

The credit rating experts at Moody's Investors Service rated Black Press financial position as "stable" on July 8 2013. Moody's was in the process of a review for "downgrade". 

 

https://www.moodys.c...-CFR--PR_277369

 

On May 10 2016 however, Moody's did downgrade BP's financial position to negative, claiming 

 

"The outlook change is a function of refinancing risks facing the company on its June 2018 debt maturities given ongoing revenue declines in the newspaper publishing industry," said Peter Adu, a Moody's AVP-Analyst.

 

 

https://www.moodys.c...irms--PR_348645

 

Now on May 10 2017, Moody's WITHDRAWS Black Press's ratings altogether citing the reason was for "business reasons".

 

Moody's has withdrawn the ratings for its own business reasons.

 

 

I dunno....this seems strange to me.

 

https://www.moodys.c...sons--PR_366316

 

There are a couple of hundred million$ of debt coming due in June of 2018.

[spanky123]

From High to Low.......lookout below.

 

Here is an interesting story worthy of a question.

 

The credit rating experts at Moody's Investors Service rated Black Press financial position as "stable" on July 8 2013. Moody's was in the process of a review for "downgrade". 

 

https://www.moodys.c...-CFR--PR_277369

 

On May 10 2016 however, Moody's did downgrade BP's financial position to negative, claiming 

 

 

https://www.moodys.c...irms--PR_348645

 

Now on May 10 2017, Moody's WITHDRAWS Black Press's ratings altogether citing the reason was for "business reasons".

 

I dunno....this seems strange to me.

 

https://www.moodys.c...sons--PR_366316

 

There are a couple of hundred million$ of debt coming due in June of 2018.

 

Thanks Sparky.

 

Here are the reasons why Moody's would withdraw a rating.

 

https://www.moodys.c...hdrawalofCR.pdf

[VicHockeyFan]

Business Reasons: under certain circumstances, MIS will withdraw a Credit Rating for a Rated Entity or an obligation for reasons unrelated to the situations identified above. When MIS indicates that a Credit Rating was withdrawn for “business reasons,” this refers to MIS’s business reasons, not the business reasons of the Rated Entity or obligor. MIS’s business reasons generally do not reflect any concerns about the Rated Entity’s creditworthiness or the quality of its management. MIS’s decision to withdraw a rating under these circumstances will attempt to balance the informational benefit to market participants from maintaining a Credit Rating against the resources required to maintain and monitor that Credit Rating or other business considerations.

[spanky123]

Business Reasons: under certain circumstances, MIS will withdraw a Credit Rating for a Rated Entity or an obligation for reasons unrelated to the situations identified above. When MIS indicates that a Credit Rating was withdrawn for “business reasons,” this refers to MIS’s business reasons, not the business reasons of the Rated Entity or obligor. MIS’s business reasons generally do not reflect any concerns about the Rated Entity’s creditworthiness or the quality of its management. MIS’s decision to withdraw a rating under these circumstances will attempt to balance the informational benefit to market participants from maintaining a Credit Rating against the resources required to maintain and monitor that Credit Rating or other business considerations.

 

In other words, Black Press isn't relative enough anymore to be worthy of the effort to investigate and maintain a credit rating. 

[Rob Randall]

It sounds almost like Blacks finances are too complicated for Moody's to untangle. Lord knows we haven't been able to.

[VicHockeyFan]

That's kind of what I'm thinking.  And since it's not a public company, or actively selling shares (?) what's the point?  

 

This newspaper business is ironically shrouded in mystery, nobody really knows how much of the TC David Radler owns.

 

2015:

 

https://www.straight...ies-tackle-high

 

 

Meanwhile, former Victoria Times Colonist publisher Paul Willocks has written a provocative blog post about the future of Glacier Media Group. It owns Business in Vancouver, the Times Colonist, and community papers in many Lower Mainland municipalities, including Vancouver, Richmond, Delta, Burnaby, New Westminster, and North Vancouver.

 

Willcocks presented a plausible explanation for how former Hollinger executive David Radler (also a former publisher of the Vancouver Sun and Province) could end up owning the Times Colonist, which is the only daily paper in the provincial capital.

 

Glacier's quarterly report notes that community papers continue to provide cash flow and scale. But the company has revealed that it's transforming itself to function "on a narrower spectrum of operating sectors in order to deploy resources and capital in areas where long-term growth opportunities can best be realized".

 

Willcocks pointed out that Glacier's revenue from newspapers declined by 9.8 percent in the last quarter, but these publications still provide nearly two-thirds of overall revenues. And he expects Glacier to zero in on other areas that provide greater profit margins in the future.

 

"My stints as publisher in Peterborough and Victoria came as the Thomson Corporation made one last stab at bringing growth to its newspapers in Canada and the U.S.," Willococks wrote in his concluding paragraph. "It decided after four or five years of effort, that the future was bleak. It sold the newspapers and invested in high-value information services. Glacier is taking the same route."

 

Glacier has recently done deals with another large B.C.-based publisher, Black Press, giving Glacier an English-language community-newspaper monopoly in the western section of the Lower Mainland.

 

Black Press took over papers formerly owned by Glacier in the eastern part of the Lower Mainland as well as in Chilliwack and Abbotsford.

 

Following these transactions, Glacier closed the 83-year-old Richmond Review while continuing to operate the Richmond News.

 

Add to the mystery the TC not even telling its own employees what the fate of their newspaper is, as their building has been sold, and their union contract ends in January 2019.

Edited by VicHockeyFan, 12 December 2017 - 08:06 AM.

[spanky123]

That's kind of what I'm thinking.  And since it's not a public company, or actively selling shares (?) what's the point?  

 

 

 

They would cover it because of the debt. The debt is probably traded between 3rd parties.

[VicHockeyFan]

Breaking news!

 

 

 

[Matt R.]

About 13 years ago (we were broke AF with two little kids) I won groceries for a year from SOF, just by being lucky. Translated into $5200 worth of paper gift certificates and a big fake cheque. Changed our life for that year!

Matt.

[VicHockeyFan]

Lauren Boothby has left Black Press after about a 6-month run. 

[spanky123]

Black Press loses $28.5M in 2017.

 

https://www.torstar....018/2017 AR.pdf. Page 18.