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Will Newspaper Groups Follow The Banks In Taking Asian And Middle East Cash for Equity? Actually, A Major Regional British Newspaper Group Already Has
Philip Stone May 15, 2008
It’s no secret that some US and European banks were soaked in the US sub-prime credit crunch mess and gave up equity stakes in return for huge cash inflows from Asia and The Middle East. It’s no secret, too, that newspapers are suffering major advertising revenue declines and for some that means making debt repayments might be in jeopardy, so can Asian and Middle East money be a savior there, too. Yes, according to the UK’s Johnston Press that has made such a deal.
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