Bankruptcy for Financially Squeezed Orange County Register Looms

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Irvine, Calif.-based Freedom Communications, which owns eight television stations and 31 daily newspapers, including The Orange County Register, is expected to file Chapter 11 bankruptcy this week, handing control over to lenders who hold approximately $770 million in debt.

The Register has an average daily circulation of 230,877 and Sunday sales of roughly 300,000 for the six months ending March 31, 2009, according to the Audit Bureau of Circulations.  The Hoiles family has been majority owners of Freedom Communications for more than 70 years.

Freedom suspended its dividend a year ago and in June 2009, announced an across-the-board 5 percent salary reduction for employees.

Gannett's Journal News Bad for Business (Reporters)

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Included among the latest round of 50 layoffs at Gannett's Journal News in Westchester County, N.Y. is the entire business editorial staff.

In the face of sagging ad revenues, the once 14-member business reporting staff was wiped out. Experiencing the recession is even tougher than covering it.

Daily Star Spends It on Beckham

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Express Newspapers Group will pay David Beckham significant undisclosed damages and attorneys' fees in settlement of the 34-year-old English soccer star's defamation claim against 'The Daily Star' regarding an April 30, 2008, front-page story alleging that he "made a play" for Hungarian model Mariann Fogarasy.

Beckham did not appear in London's High Court where the settlement was announced. Counsel for the media defendant acknowledged that the story was untrue and "apologizes to Mr. Beckham and his family for the distress, embarrassment, and injury caused to him. "

The offending article featured the page 1 headline "Becks & the Blonde Beauty," and an inside heading on pages 4 and 5, "Topless model claims she was chatted up by footie star." The article claimed that following an AC Milan soccer match in Hungary, Beckham "made a play" for Fogarasy and continued to email her with "private invitations."

Beckham and his spouse, Victoria "Posh Spice," have reduced constant public attention and compensation unrelated, respectively, to goal-scoring or singing, to an art form.