# Are the owners of the SD still in financial difficulties? **URL:** \ **Category:** About This Message Board\ **Created:** [December 31, 2009, 9:14am UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174 "2009-12-31T09:14:40Z")\ **Posts on this page:** 11\ **Page:** 1
**Author:** ![NineToTheSky](https://avatars.discourse-cdn.com/v4/letter/n/b5a626/32.png) [@NineToTheSky](https://boards.straightdope.com/u/NineToTheSky)\ **Post date:** [December 31, 2009, 9:14am UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/1 "2009-12-31T09:14:40Z")
Earlier in the year, it was reported that the owners of this board were in financial difficulties. What is the situation now? ---
**Author:** ![bbs2k](https://avatars.discourse-cdn.com/v4/letter/b/e495f1/32.png) [@bbs2k](https://boards.straightdope.com/u/bbs2k)\ **Post date:** [December 31, 2009, 9:40am UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/2 "2009-12-31T09:40:01Z")
From [8/25/09](http://chicagoist.com/2009/08/25/atalaya_buys_the_reader.php) > [@](#): > > **Atalaya Buys The Reader** > Our pals at the Chicago Reader are now under new management. New York-based hedge fund Atalaya Capital Management bought the Reader’s parent company Creative Loafing for $5 million. Atalaya managing partner Michael Bogdan told the Reader’s Michael Miner, “It’s absolutely our intention to run it. The Reader’s a great publication and we want to make it even better.” Whet Moser has more and Miner also spoke to former Tribune managing editor Jim O’Shea who will likely play a role under the new management. From [12/29/09](http://chicagoist.com/2009/12/29/top_9_of_09_-_no_6_should_we_talk_a.php): > [@](#): > > The Chicago Reader’s parent company, Creative Loafing, saw its own bankruptcy proceedings resolved and found themselves under new ownership. (No mention of how well business is going since.) General searches for Atalaya don’t result in a lot of negative updates. Creative Loafing was purchased and there are not any\* reported \*stories about upcoming shakeups that I can find. ETA: IANAAOSFAICL (I am not an admin or speaking for anyone in Creative Loafing) ---
**Author:** ![Kent\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kent_clark/32/105_2.png) [@Kent\_Clark](https://boards.straightdope.com/u/Kent_Clark)\ **Post date:** [December 31, 2009, 3:47pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/3 "2009-12-31T15:47:02Z")
After buying Creative Loafing, Atalaya still had cash to buy [Bennigan’s restaurants](http://www.pegasusnews.com/news/2008/oct/23/atalaya-capital-management-acquires-assets-benniga/), so that’s a good sign. HEY! Where’s my charter membership card for Bennigan’s? ---
**Author:** ![BigT](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/bigt/32/12044_2.png) [@BigT](https://boards.straightdope.com/u/BigT)\ **Post date:** [December 31, 2009, 4:09pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/4 "2009-12-31T16:09:23Z")
The real problem, if I remember correctly, was that Creative Loafing was losing money, and the new owners promised to try and fix that. Some were afraid that, to cut costs, they’d shutdown or completely revamp this message board. I never got the impression that Atalaya were themselves in any financial trouble. ---
**Author:** ![TubaDiva](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tubadiva/32/507_2.png) [@TubaDiva](https://boards.straightdope.com/u/TubaDiva)\ **Post date:** [December 31, 2009, 4:44pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/5 "2009-12-31T16:44:18Z")
> [@kunilou](#): > > After buying Creative Loafing, Atalaya still had cash to buy [Bennigan’s restaurants](http://www.pegasusnews.com/news/2008/oct/23/atalaya-capital-management-acquires-assets-benniga/), so that’s a good sign. > > HEY! Where’s my charter membership card for Bennigan’s? Atalaya assumed ownership of Benningan’s before they acquired Creative Loafing. ---
**Author:** ![Hal\_Briston](https://avatars.discourse-cdn.com/v4/letter/h/a9a28c/32.png) [@Hal\_Briston](https://boards.straightdope.com/u/Hal_Briston)\ **Post date:** [December 31, 2009, 6:08pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/6 "2009-12-31T18:08:32Z")
Wow, did I do some major misreading there. (bolded word merely a figment of my myopia) > [@](#): > > Atalaya managing partner Michael Bogdan told the Reader’s Michael Miner, "It’s absolutely our intention to **ruin** it. ---
**Author:** ![Nametag](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/nametag/32/406_2.png) [@Nametag](https://boards.straightdope.com/u/Nametag)\ **Post date:** [January 1, 2010, 9:38am UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/7 "2010-01-01T09:38:32Z")
I don’t think business moves that fast, guys. From Dec. 21: > [@](#): > > Marty Petty, former publisher of the St. Petersburg Times and the Hartford Courant, was named chief executive officer of Creative Loafing, which has its headquarters in Tampa. She succeeds Richard W. Gilbert, who served as interim CEO after the reorganized company emerged from bankruptcy in the fall under the new ownership of Atalaya Capital Management, a New York investment firm. Elaine Clisham, Director of Targeted Solutions at the American Press Institute and former Sales and Marketing Manager at the Association of Alternative Newsweeklies, is (or was) also on loan to CL as “Field Director.” So it seems like they’re making definite steps to actually run the newspapers. Also, Atalaya is specifically in the business of depressed businesses. How it’s going right now? It’s impossible to say, as Atalaya is a private firm, and doesn’t report its financials. If any of its properties are publicly held, I haven’t seen it. ---
**Author:** ![Kent\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kent_clark/32/105_2.png) [@Kent\_Clark](https://boards.straightdope.com/u/Kent_Clark)\ **Post date:** [January 1, 2010, 5:54pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/8 "2010-01-01T17:54:37Z")
> [@TubaDiva](#): > > Atalaya assumed ownership of Benningan’s before they acquired Creative Loafing. I’m not sure of the legalities, but we were talking about Creative Loafing being purchased back in [August](http://www.ajc.com/business/creative-loafing-chain-sold-123525.html), and the Bennigan’s announcement was dated October 31. In any case, it appears that Atalaya has continued acquiring businesses, which suggests to me that it’s doing okay financially. ---
**Author:** ![samclem](https://avatars.discourse-cdn.com/v4/letter/s/a9a28c/32.png) [@samclem](https://boards.straightdope.com/u/samclem)\ **Post date:** [January 1, 2010, 7:05pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/9 "2010-01-01T19:05:28Z")
> [@kunilou](#): > > I’m not sure of the legalities, but we were talking about Creative Loafing being purchased back in [August](http://www.ajc.com/business/creative-loafing-chain-sold-123525.html), and the Bennigan’s announcement was dated October 31. Oct. 31, of **2008** ---
**Author:** ![TubaDiva](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/tubadiva/32/507_2.png) [@TubaDiva](https://boards.straightdope.com/u/TubaDiva)\ **Post date:** [January 1, 2010, 7:38pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/10 "2010-01-01T19:38:28Z")
> [@kunilou](#): > > I’m not sure of the legalities, but we were talking about Creative Loafing being purchased back in [August](http://www.ajc.com/business/creative-loafing-chain-sold-123525.html), and the Bennigan’s announcement was dated October 31. > > In any case, it appears that Atalaya has continued acquiring businesses, which suggests to me that it’s doing okay financially. From the article cited: Atalaya Capital expects to close on the acquisition on or before **October 31, 2008.** Atalaya purchased the assets of Creative Loafing from the U.S. Bankruptcy Court in August of **2009**. ---
**Author:** ![Kent\_Clark](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/kent_clark/32/105_2.png) [@Kent\_Clark](https://boards.straightdope.com/u/Kent_Clark)\ **Post date:** [January 1, 2010, 10:52pm UTC](https://boards.straightdope.com/t/are-the-owners-of-the-sd-still-in-financial-difficulties/523174/11 "2010-01-01T22:52:35Z")
> [@samclem](#): > > Oct. 31, of **2008** :smack: [Emily Litella] Oh, that’s very different [/Emily Litella] :smack: Sorry