Eva Knott 7:43 p.m., April 15
It Looks Like Copley Press Was Spending Money on Acquisitions When It Should Have Been Spending on Technology
In the mid-1990s, Copley Press went into debt to buy some Illinois papers. In the early 2000s, the company strained its finances again by buying some Ohio papers. At the time, some in the company said top management should be spending the money on technology, not buying other papers. At least one manager who said that was hurried out the door. Now, the company is stuck without a full pagination system (see post below) and it is struggling to get components for its antiquated operation. I have learned that the company is not only having trouble getting photographic film as discussed in the post below; it also is having difficulty getting certain kinds of tape and waxers used for non-paginated pages. I have been told that if the company had installed a pagination system in the mid-1990s, it would have been good for eight years. But that's when the parent company's management was on the acquisition trail. Those newspapers it bought were sold in early 2007.