#Daytona beach news journal paper upgrade#

A placard on the construction site shows a gleaming white building with curved glass front: 'The future home of the News-Journal Center.' Groundbreaking took place in March opening is planned in December 2005. While the two sides await their day in court, construction is under way at the theater complex, at the base of the sweeping International Speedway Boulevard bridge connecting Daytona Beach's downtown to the beach. The disrespect, disregard and disdain of giving away the equivalent of two years' net income without even the courtesy of asking or informing us is very worrisome.' 'We're saying they should put it into their newspaper. 'We're not saying they should put the $13-million in Cox's pocket,' he said. Jay Smith, president of Cox's newspaper company _ which owns 47.5 percent of the News-Journal, said the paper fails to live up to its potential, editorially and financially. It comes down to a value judgment about what a newspaper ought to be.' 'This is why a dowdy little band of independent newspaper owners recoils at the notion of selling out to a chain. 'Cox wants every extra dollar to become an extra dividend,' Kaney said. Nor have the Davidsons ever been shy about promoting the arts in their hometown, even strong-arming politicians for support when necessary.Īll Cox wants to do, Kaney suggests, is suck money out of Daytona Beach back to its corporate headquarters in Atlanta.

The Davidsons, through their general counsel and board member, Jonathan Kaney, counter that Cox could care less about the newspaper or Daytona's cultural needs.

It also charges that the newspaper vastly overpaid for naming rights to the project, which was in danger of failing without the newspaper's cash infusion.

#Daytona beach news journal paper upgrade#

Cox said that it was never consulted on the naming agreement and that it believed the newspaper's nest egg of $13-million was going to be used to upgrade the paper's operations.