The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers

The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers

The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers

The Deal from Hell: How Moguls and Wall Street Plundered Great American Newspapers

Excerpt

In April 1999, John Madigan walked decisively into the lobby of the Hotel del Coronado. Tall, imposing, and impeccably dressed, the Tribune Company CEO arrived at the redturreted hotel as a star-studded guest list of some 1,200 publishers, consultants, and experts gathered for the national Newspaper Association of America (NAA) annual meeting. Seasonably cool temperatures chilled San Diego, as Madigan, head of the company that published the Chicago Tribune, bypassed the parlors and lobbies where publishers traded industry scuttlebutt about the story of the day, the evolving coverage of two Littleton, Colorado, students who had opened fire on classmates at Columbine High School. But the Tribune chief hadn’t flown to San Diego merely to gossip or to hear luminaries like former president Gerald Ford, talk-radio host Dr. Laura Schlessinger, or Sergio Zyman, Coca-Cola’s marketing guru, speak to newspaper publishers. Madigan had set up a private meeting with Mark Hinckley Willes, the CEO of the Times Mirror Company.

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