As a former metro reporter for the Daytona Beach News-Journal, I asked its publisher, Michael Redding of Halifax Media the following in an e-mail overnight Tuesday: "I have one question for you regarding your acquisition of 16 New York Times newspapers for $142 million in cash "subject to certain adjustments." WHAT EXACTLY DOES THAT MEAN?
I followed it up by stating: "You can read my blog for my thoughts as someone whose family endured a previous acquisition where 400 employees, give or take, lost their jobs for a $19 million fire sale." I cc'd my question to Robert Christi and Abbe Serphos of the NY Times mentioned in a press release announcing the sale.
I am curious how Halifax Media is able to accomplish such a monumental acquisition