Thursday, April 22, 2010

Why private equity avoids newspapers

Anyone who needs capital for a big-ticket media deal is likely to show up at Mr. Nelson’s door. A number of wannabe press barons have made that pilgrimage in recent months, after CanWest’s lenders put the publishing company on the auction block with a $1-billion (Canadian) reserve bid. And sources say that Providence’s CEO had a definitive response on requests for support, or even advice, on a CanWest purchase: Forget it

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