By the time Stream hits the market Oce will find someone in the States to do what they are doing in Spain. Why not network to give American newspapers the full package now? The window of opportunity can close very quickly.
While they're at it, it would be very neat to set up a new venture whose stock I could buy. Call it something like, Newspaper Solutions. Every newspaper needs a solution.
Both Kodak and Oce have some really good parts of that solution. Kodak with MicroZone, et all. And Oce with this story, plus lots of years with DNN.
Since they are both cash short at the moment, and there is very little funny money around, issue hybrid preferreds at $25 each. (see stock symbol C+P at Schwab, C.P at Wachovia) for details). Then offer the stock to buy out the pensions nobody can afford. Meanwhile, keep a bunch of the issue in house to reward members of the newspaper PRinternet.
The only thing is with a hybrid preferred you have to guarantee a dividend. But that's all to the good anyway. If you move quickly you could probably get away with 5 or 6%. It will keep all the incentives nicely aligned.
Sounds like win-win-win to me.
Oce claims 'world first' as newspaper group upgrades to digital@ ProPrint:
"A Spanish publishing group is to produce a range of local newspapers and magazines entirely on a digital press, described by Oce as the world's first short-run production site for domestic titles in colour.
Imcodavila, a newspaper publisher based on the outskirts of Madrid and boasting 200 titles to its name, bought Oce's Jetstream 2200 rather than make an investment in a new litho machine.
Up to 40 separate titles will be printed on the press - a mixture of dailies, weeklies and monthlies."