Posted on 08/05/2019 8:01:13 PM PDT by george76
The combined company would have more than 260 daily papers in the United States, along with more than 300 weeklies. It would be the largest U.S. newspaper company
...
the U.S. has lost almost 1,800 local newspapers since 2004. Newsroom employment fell by a quarter from 2008 to 2018, according to Pew Research, and layoffs have continued this year.
Both GateHouse and Gannett are known as buyers of other papers. Bulking up lets companies cut costs including layoffs in newsrooms and centralize operations.
...
GateHouses owner, New Media, is taking on new debt to get the deal done a $1.8-billion loan from private equity firm Apollo Global Management. That will have to be paid back.
...
Consolidation is nothing new to either company. Gannetts last big U.S. print purchase was in 2016, when it bought papers in the Journal Media Group chain for $280 million, including the Milwaukee Journal Sentinel and the Commercial Appeal in Memphis. Gannett also owns dailies in major cities such as the Detroit Free Press and Arizona Republic.
Its more recent merger efforts have been unsuccessful. It failed in an unsolicited bid for newspaper chain Tribune. Gannett then fended off an unwanted bid by MNG Enterprises, better known as Digital First Media, a hedge-fund backed media group with a slash-and-burn reputation for cutting jobs and letting papers wither.
(Excerpt) Read more at latimes.com ...
Thanks for the heads.
Just remember Gibbs’ Rule #39: “There is no such thing as a coincidence.”
“Where I stay USA today is no longer provided!”
‘Guests read their phones or laptops.’
That by itself would have had a huge negative impact on the sales of this anti America rag.
Generally, the plan by the private equity groups is to loot the company and then bankrupt it wiping out the other shareholders.
Should be at least 3 years before the Chapter 11 gets filed.
Is that why they are often referred to as Vultures?
Good luck with that.
Thanks for revealing more Deep State bs involving the elite liberals like Epstein!
Really?
Toobin and the others in the lying media are the reason people think the news media are a bunch of leftist liars.
Who's keeping an eye on the Chamber and service clubs now that the local reporters are gone?
Dang becha! And give me a slap upside the noggin if I forget!
The vulture funds usually attack companies that are already on the ropes. A venture capital fund will frequently go after a more or less healthy company since there is more money to grab. The real vultures may show up with a round of post-petition financing.
In any event, potential for me down the road picking over the carcass in bankruptcy.
Newspapers aren’t bought for news that much anymore.
More news on the net, tv, radio, etc.
Evil ( on several different levels ) and lying Toobin knows that :: Toobin and the others in the lying media are the reason the news media are a bunch of leftist liars.
Toobin was a member of the infamous Journ-0-List.. a secret (no longer) enclave of Washington journalists / haters of the US Constitution who strategized on how to move forward the Deep State agenda.
Toobin had an extramarital affair and a child with Casey Greenfield who happens to be the daughter of journalist Jeff Greenfield... as a deadbeat dad , Toobin refused to pay child support for his son .
When he refused to pay , Greenfield’s lawyer threatened to notify his employers and garnish his wages; Toobin then paid up...
A good grand jury system.
Please don’t waste my time defending reporters at any level.
I feel sorry for the cats. :)
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