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Today's lesson in Irony II

Newspapers love leaks, except when it directly involves them.

NEW YORK Owners of the Philadelphia Inquirer and Philadelphia Daily News say someone wrongly leaked information from a private conference call earlier this week that resulted in a Standard & Poor's report on the ownership missing an interest payment.

Jay Devine, a spokesman for Philadelphia Media Holdings, declined to confirm or deny the report that the company missed a June 1 interest payment on $85 million of loans and is in talks with lenders for relief. But he said the report was the result of an improper leak by someone involved in the conference call just days ago.

"The report was the result of someone breaking a confidence of a conference call that was held the other day between the bankers, our company and financial analysts," he told E&P Friday, declining to say what day the call occurred. "We will express our disappointment and try to reiterate the fact that they are confidential discussions and private discussions and ask people to honor that confidence."

Ethically the leaker was probably wrong and Philadelphia Media Holdings is within its right to complain.. Answer me this Mr. Devine, if similar information about a major Philadelphia corporation had been leaked to Philadelphia Media Holdings, would your employer reported on it or not?


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Comments (5)

If it bleeds it leads. ... (Below threshold)

If it bleeds it leads.

Wow, love the indignation t... (Below threshold)
GarandFan Author Profile Page:

Wow, love the indignation that someone within a news organization wouldLEAK information to outsiders. Have they, at long last, no shame?

Moreover, if sensitive secu... (Below threshold)
Paul:

Moreover, if sensitive security information was provided to the paper that could result in the loss of American interests, would the paper not print that as well?

Hypocritical, sure, but iro... (Below threshold)

Hypocritical, sure, but irony?

Of course they would leak i... (Below threshold)

Of course they would leak it. The irony is that if the leaker were a newsie, he/she probably expedited their own demise.




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