Saturday, August 22, 2015

Will Boo Radler Soon Control The VTC?


Paul Willcocks, who knows a thing or two about running newspapers, has an interesting post up analyzing what's going on with Glacier Media.

After dealing with the consolidation/asset harvesting part of the deal, particularly as it pertains to the community paper part of the chain, Mr. W. then wonders about what's going to happen with the Victoria Times Colonist:

...Glacier bought the Victoria Times Colonist in 2011, as part of an $87-million deal that included two other small dailies and 20 weeklies. Postmedia’s community papers in the Lower Mainland were likely the prize that Glacier wanted.

The corporation has acknowledged, vaguely, that it is not the sole owner, describing “certain assets acquired from Postmedia” as “Joint Ventures and Associates.”

In the latest report, after the swap with Black Press, it specifically put the Times Colonist in that category, without saying who was the “associate” involved.

An informed bet would be that Glacier’s associate is David Radler, Conrad Black’s long-time business partner jailed for mail fraud. The corporation has partnered with Radler in newspaper properties in Alberta, the Okanagan and the U.S. He is still, apparently, taking a management or advisory role at the Times Colonist.

Which raise some interesting speculation about the plan to “monetize” its newspaper assets. The Times Colonist, as a daily newspaper in a mid-size city, never fit with Glacier’s focus. It’s even possible Postmedia forced Glacier to take the Victoria daily if it wanted the Lower Mainland community papers.

If Glacier wants out, Radler is the person most likely to take over...

Oh boy.


1 comment:

Unknown said...

Yes, that's what we need in Victoria, a unprincipled fraud artist willing to rat out his partner in crime, Conrad Black, in an effort to reduce his already inadequate jail sentence. Fraud is not a victim-less crime as evidenced by this story of one of Radler's cast-offs

Perhaps when Ratler tires of newspapers, he could find a cozy nest in the BC legislature.