100% agree. These assets are in terminal structural decline. Only the biggest, most respected mastheads like the NYT, Washington Post, WSJ, AFR etc have a future in a digital world.
These regional mastheads are destined to die alongside their print subscribers.
This deal also dilutes the parts of the business that actually have a future. Regional + metro radio and digital audio and leaves shareholders to still deal with regional TV which is also in terminal decline.
The A1N deal on the other hand gives holders some cash and a stake in the dominant regional and metro radio business in the country + 50% of a digital audio JV that will be immediately profitable post synergies. Moreover we no longer own a declining TV biz.
Absolute no brainer to let this one through to the keeper if you have more foresight than the end of your nose.
Ann: Media article regarding ACM proposal, page-6
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