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MediaNews Group, Inc.William Dean Singleton is the CEO of MediaNews Group, Inc.. Based in Denver Colorado, MediaNews Group is a large American newspaper company which was founded in 1983 by CEO William Dean Singleton. Affiliated Media, Inc. is the privately owned holding company for MediaNews Group. The company operates 54 daily newspapers in 11 states with combined daily and Sunday circulation of approximately 2.4 million and 2.7 million, respectively. MediaNews Group also owns a television station and radio stations in Texas. On January 22, 2010, Affiliated Media filed for bankruptcy, using a “prepackaged” plan of reorganization under chapter 11 of the bankruptcy code in United States Bankruptcy Court in Delaware. The plan provides for a financial restructuring that sharply reduces debt. If the plan is enacted, company debt will fall from about $930 million to $165 million, and senior lenders will swap debt for stock. The group of 116 lenders led by Bank of America will hold a majority of stock. Affiliated Media management led by Singleton will retain 20 percent of the company through stock and warrants, and Singleton and company President Joseph J. Lodovic IV will own all class A shares, allowing them to choose a majority of the seven-member board of directors. Other stockholders will own class B and C shares. Before declaring bankruptcy, MediaNews Group had joint ventures with a number of other media companies. These included a California newspaper partnership with Gannett Company, another California venture with Hearst Corporation and several Colorado ventures with E.W. Scripps Company. CEO Singleton is known as an acquisition-minded and numbers-oriented newspaper executive who focuses on cost controls. At the annual meeting of the American Society of Newspaper Editors in April 2006, he said that newspapers have become insular and boring. "We've got to make them much more compelling than they are today," he said. "As an industry, for the last 30 years we've edited newspapers for each other and to win awards so we could pat each other on the back." Singleton has said that he would not take his company public because he would lose control. "I can't imagine having the Wall Street analysts run my company for me," he said. Affiliated Media, Inc. reported revenue of $1.06 billion in fiscal 2009, which ended June 30, 2009. Contact Information
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