Today's equity auction should be the culmination of nearly a year of bankruptcy court proceedings for the six-paper company. Creative Loafing (Atlanta) is reporting that creditor Atalaya Capital Management is trying to disqualify the other bid for the company, which has been put together by CL CEO Ben Eason. Atalya, calling Eason's bid "facially incomprehensible," is arguing that the sources for contributions included in Eason's bid "are not clear." Meanwhile, the Chicago Reader reports that Atalya managing partner Michael Bogdan has been calling CL publishers to assure them the hedge fund doesn't want to run the company into the ground. On the call to Chicago, Bogdan was joined by former Los Angeles Times editor James O'Shea, who would become a CL board member if Atalya wins control of the company. O'Shea tells Michael Miner that Atalya would make former Des Moines Register president Richard Gilbert interim CEO upon taking over.
Seven Days founder and co-editor Pamela Polston reports that Vermont Sen. Bernie Sanders reached out to her last week regarding the senator's recent inaccurate statements about the alt-weekly industry. "Bernie let me know that his office sends out 'hundreds' of releases every day and that 'I don't always read them carefully,'" Polston writes, noting that Sanders was a little defensive and thought AAN was making too much of his offhand remarks, given Sanders' work on media reform issues. "It was clear Bernie wasn't going to provide a written apology to AAN, but he did offer this: 'If I have offended anyone in the alternative media, I'm sorry for that.'"
Editorial Committee chair Julia Goldberg provides an update and a few videos from last weekend's committee meeting and Writers Workshop conference in Evanston, Ill.
"Creative Loafing's bankruptcy is just one more media story to follow, along with the Sun-Times Media Group's bankruptcy and the Tribune Company's bankruptcy," Michael Miner writes. "But CL's is the story I'm part of." He explores the difficulties of "reporting on your own house" as a media writer, and explains why he kept news of Reader layoffs off his blog for four days -- and didn't name any of the departing staffers -- just days after he had broken news of layoffs -- with names -- at Chicago Public Radio. "I have no explanation that will satisfactorily answer this question," he writes. "The fancy one I'll retreat to is one word long: epistemology. You see, it's not simply what journalists know that matters to us but also how we happen to know it. I knew what happened at WBEZ because I got a tip and worked the story; I knew about the Reader because it's home."
Joe Grafton, the executive director of Somerville Local First, interviews East Bay Express publisher Jody Colley and Austin Chronicle editor Louis Black for a piece in Boston's Weekly Dig about the local movement across the country. Colley talks about the campaign she organized last year that encouraged alt-weekly readers across the country to do their holiday shopping locally, and Black discusses the "symbiotic" relationship the Chronicle has with the local business community. Grafton has posted fuller interview clips of both of them on his Shift Across America blog.
Yesterday was the deadline for interested parties to submit their bids for Creative Loafing, Inc. to a bankruptcy court judge. According to a document filed yesterday, all bidders will be provided with the details of opposing bids by noon today. UPDATE (1:50 pm): Creative Loafing (Atlanta) is reporting that Eason's team and creditor Atalaya Capital Management will be the only two bidders at next Tuesday's auction.
The Stranger's editorial director and syndicated columnist has been in Los Angeles this month working with HBO on a "presentation pilot" for a potential TV show. The show will have a "focus on current events and cultural trends with sex as the filter," Savage writes. "Basically, my sex-advice column -- but on the teevee!" The pilot is taping on Aug. 27 -- you can sign up for tickets here. A Craigslist ad offers a glimpse into a potential topic for the pilot: men who wear chastity belts.
Al Shea, a longtime New Orleans actor, TV personality and critic for Gambit and other outlets, died early this morning after a long battle with bladder cancer. He was 80. Shea was given a Lifetime Achievement Award at the Gambit's Big Easy Awards earlier this year for his contributions to New Orleans.
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