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Columbus Monthly & TOP Parent Company Files Chapter 11

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Started 4 years ago by crsimp01
Latest reply from BetsyB

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crsimp01
Columbus, Ohio
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From the Dispatch:

Publisher of area weeklies plans to file for Chapter 11

The parent company of Suburban News Publications and Columbus Monthly magazine announced yesterday that it will file for Chapter 11 bankruptcy.

American Community Newspapers told employees that it intends to continue in business. Ã¢â‚¬Å“Like many companies, we are confronted with a challenging operating environment and will continue to look for ways to improve our cost structure and bring our operations in line with the economic realities of today,Ã¢â‚¬Â the company said in the statement. It indicated employment levels, pay and benefits would remain the same.

http://www.dispatch.com/live/content/business/stories/2009/04/29/brpaper.html?sid=101

Posted 4 years ago #
Walker
The KLD / Downtown / Gay Street
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Two paragraphs? And no mention of The Other Paper?

I would think the Dispatch would be giving this more coverage than that. Unless this is just a quick online blurb until the more complete story is finished?

Posted 4 years ago #
shroud
Polaris
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I have to say that, at least from the "Suburban News Publications' standpoint this doesn't really surprise me. All those little neighborhood newspapers that are delivered free to everyone in the neighborhood are just a giant waste of paper that usually end up rotting on the street & littering the neighborhood.

Stop killing trees (or wasting energy on recycling) to send me outdated news!

Posted 4 years ago #
karenS
UA/Hilliard Area
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Shroud, you can call and have the delivery of those free papers stopped. I never read mine and whoever delivered them could never get them anywhere near the house so the street was always littered with them and looked awful, so I called the circulation department and had them stopped.

Regarding the bankruptcy, I advertise in Columbus Bride - also owned by ACN, along with lots of other publications - and was told by my ad rep just now that ACN is merely restructuring from a public company to a private company and that everything will be business as usual for all publications owned by ACN in the Columbus market. My ad rep encouraged anyone with questions to call the local office.

Posted 4 years ago #
Dcross

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The news broke late last night. Business First has a story about it; however, just because this happened doesn't mean anyone from the company will comment on it. It is likely that any reporter asking questions will be pointed to the press release, also online, for quotes.

Posted 4 years ago #
Tenzo
Chicago Lakeshore
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In the year I have been getting it the quality has gone down

Posted 4 years ago #
Anne
King Lincoln
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Perhaps. but I was looking forward to reading it this month and the USPS delivered to me the front cover wrapped in plastic saying sorry we damaged your mail. Sigh.
Hopefully I can get a new copy.

Posted 4 years ago #
nexttuesday

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I agree, I hate those papers. I finally canceled ours this winter when their driver nearly hit me because he was driving in the middle of the street during an ice storm. He then creepily drove by twice while I stared at him before tossing a paper into my driveway. I left a message on their machine that was less than friendly.

Posted 4 years ago #
JonMyers
HCMC, Vietnam ✈
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So The Other Paper is a part of this as well?

Posted 4 years ago #
Core_Models
Columbus
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I've been waiting all day for Teet to let us know about TOP situation.

Posted 4 years ago #
joev
Merion Village
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JonMyers wrote >>
So The Other Paper is a part of this as well?

I thought they were recently bought out by a Texas-based company, but I may be wrong.

Posted 4 years ago #
heresthecasey
Funkytown
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Does the same company publish Cbus mag? is that even still being published? The title of the thread confused me a but before i realised it was SNP.

Posted 4 years ago #
Anne
King Lincoln
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American Community Newspapers is from Dallas. Unless their site is out of date, TOP is owned by them.
http://www.americancommunitynewspapers.com/publications/

Posted 4 years ago #
JonMyers
HCMC, Vietnam ✈
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Core_Models wrote >>
I've been waiting all day for Teet to let us know about TOP situation.

I saw the Teet tweet something that alluded to it.

Posted 4 years ago #
Walker
The KLD / Downtown / Gay Street
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Fixed the headline to make it a little less confusing.

The Other Paper, Suburban News Publications, and Columbus Monthly are owned by the same publishing company, which is the Texas-based "American Community Newspapers" that is filing for Chapter 11.

It sounds like the immediate impacts are zero, and I imagine The Teet, along with all other employees have been asked not to really say anything about it for now.

Posted 4 years ago #
Aaron Marshall
South Side Wrecking Crew
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No one is laid off, business as usual for now is what I've heard...

Posted 4 years ago #
my medium is dying
Bangs, ohio
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i'm going to need to refer you to our public relations firm...

just kidding.

they're telling us business as usual, as everyone has said. higher-ups seem to happy about this?

the only insider-y information i know is that we all got free pizza for lunch today.

chapter 11 is awesome!

EDIT: also, i'm so happy that you guys are calling me the teet.

that is ALMOST as awesome as Chapter 11.

Posted 4 years ago #
vuch
grandview
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"There are 12 slices in this pizza. There are 15 employees in the office. I'm going to go around the table handing out pieces of pizza now, and if you get one you do not have to clean out your desk."

Sorry. Wayyy off topic. Just thought it would be a hilarious way to downsize a company.

Best of luck to TOP tho!

Posted 4 years ago #
lifeontwowheels
Highland West
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Remember the South Park with the Romanian contortionist girls?

"Everyone whose grandmother is still alive, step forward. Not so fast, girls. "

Posted 4 years ago #
Walker
The KLD / Downtown / Gay Street
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my medium is dying wrote >>
i'm so happy that you guys are calling me the teet.

Coremodels told me to.

vuch wrote >>
"There are 12 slices in this pizza. There are 15 employees in the office. I'm going to go around the table handing out pieces of pizza now, and if you get one you do not have to clean out your desk."

Best post of the day! :D

Posted 4 years ago #