GateHouse would be the nominal survivor, with New Media Investment Group's CEO, Mike Reed, becoming CEO of the merged company. National online news media in Australia is essentially controlled by two companies: News Corp, through News Corp Australia, and Nine. The company expanded into business news coverage and has more than 2,000 reporters around the world. The healthcare industry is facing immense economic pressures. Third in the list is Daniel Yong Zhang, the CEO of Alibaba Group, which has 3 outlets under its umbrella: UC Browser, UC News India, and South China Morning Post. Bascobert, who has a background in e-commerce as well as media, will now serve as. ", Warning to Congress:Powell: USdebt is 'on unsustainable path', Walmart's Black Friday:Store releases ad with $129 Apple Watch, TV deals. [26], In October 2017, GateHouse acquired Edward A. Sherman Publishing Company, parent of The Newport Daily News. Interest in the skilful, highly technical Spanish midfielder will only increase after a surge in form. James Cox, the company founder and grandfather of current chairmanJim Kennedy, bought his first newspaper, the Dayton Ohio Evening News, in 1898. Certain statements in this communication may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect New Medias and Gannetts current views regarding, among other things, the proposed transaction between New Media and Gannett, the expected timetable for completing the proposed transaction, the benefits and synergies of the proposed transaction and future opportunities for the combined company, as well as other statements that are other than historical fact. Ashley Higgins, New Media Investor Relations ir@newmediainv.com (212) 479-3160 or Media: Jonathan Gasthalter/Nathaniel Garnick Gasthalter & Co. (212) 257-4170 Or Investors: Sam Levenson Arbor . He has said he's confident of hitting the savings target. Mr. Bascobert was the President of XO Group from 2016 until its sale to Permira Equity in 2019. Read a newspaper, magazine, watch CNN, FOX, anything besides Social Media. Si stepped down as chairman of Conde Nast in 2015. [33], On January 28, 2019, it was announced that GateHouse Media had acquired the publishing division of Schurz Communications including The Herald-Times in Bloomington, Indiana, South Bend Tribune in South Bend, Indiana, and other papers in Clay, Lawrence, Monroe, Morgan, Orange, Owen, and Putnam counties in Indiana. Bill Church, Senior VP News; Liberty Group Publishing was formed in 1998 when Kenneth L. Serota, a former Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. New Media and Gannett believe that a digital transformation of the newspaper industry is vital to the preservation of journalism, and the Merger will accelerate the combined companys digital transformation. Inaddition to USA TODAY, Gannett owns 109 local media properties operated as the USA TODAY Network including the Arizona Republic, Detroit Free Press, Milwaukee Journal Sentinel and Indianapolis Star as well as United Kingdom-based Newsquest Media Group and digital marketing assets like WordStream. Nathan Bomey USA TODAY Gannett on Wednesday named a mix of leaders from the old Gannett and its acquirer, New Media Investment Group, to lead the media company. In August 2019, American investment firm KKR purchased the largest stake in Axel Springer SE, a German media group whose assets include Business Insider and Rolling Stone. How can you possibly not list any social media sites, such as Facebook, etc. Entertainment Group. The proposed transaction will be submitted to New Medias stockholders and Gannetts stockholders for their consideration. Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across its network. The New York Times published an article last Fridaycriticizing the power that billionaires wield over media companies. We are committed to delivering significant synergies in a thoughtful manner, consistent with our shared goals for the business, said Michael Reed, New Media Chairman and Chief Executive Officer. ir@newmediainv.com Enhanced scale. 19 September, 2019. Gannett's current CEO, Bascobert, will retain that title as head of the new company's operating subsidiary, also to be called Gannett. News Corp, through News Corp UK, and Daily Mail and General Trust plc own many of the largest national news sites in the U.K. Newspaper Chain, Targets 'Inefficiencies', "Red ink pressing publisher; Liberty Group grew fast, but so did its debt Crains August 5, 2004", "International Directory of Company Histories. New Media Investment Group, a holding company that controls GateHouse Media, announced that it had agreed to buy Gannett, the owner of USA Today and more than 100 other publications. Align to Preserve and Enhance Quality Journalism, Creates the leading U.S. print and digital news organization with deep local roots and nationwide scale, Michael Reed to remain Chairman of the Board of Directors and Chief Executive Officer; Gannett had about 16,980 employees at the end of 2018, while GateHouse had about 10,638 employees, according to their securities filings. FORBESpegs his net worth at $45.7 billion. How to Pin Folders and Files to Finder Menu, How To Autofill Letters from A-Z in Excel. Chief Executive Officer of the combined companys operating subsidiary, Strategically-aligned leadership committed to expanding and promoting In an interview with CNBC, Soon-Shiong described his investment as an opportunity to actually transform this newspaper world into this next generation. In 2014, Tribune Publishing Co. was spun out of Tribune Company, which changed its name to Tribune Media Co.Tribune Co. had previously been owned by billionaire real estate investor Sam Zell, who took control of Tribune Co. in 2007. Billionaire Red Sox owner John Henry purchased the Boston Globe in October 2013 for $70 million. "They are of enough scale that they are doing a good amount of digital national business, and the GateHouse properties added in there gives them more scale.". Neither New Media nor Gannett can give any assurance that its expectations will be attained. [citation needed], In June 2005, Fortress Investment Group bought Liberty for $527 million. The new company's financial success will hingeon its ability to shed overlapping costs and achieve what it calls a "digital transformation" built on increased revenue from digital products and marketing services. For news sites that are owned or controlled by the government, the head of government was listed as the highest-level owner. [citation needed] In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. According to a recent analysis from the Columbia Institute for Tele-Information research center, the market concentration of internet media has more than doubled since 2000. "The combined operations will have a broad local-to-national network of incredibly talented, experienced journalists who can continue to deliver unique award-winning content for both local communities and national audiences," Bascobert told investors in a conference call Nov. 4. Joele Frank, Wilkinson Brimmer Katcher By Marc Tracy Gannett, the Owner of USA Today, Is About to Get a Whole Lot Bigger GateHouse Media, a newspaper company backed by a hedge fund, agrees to buy the venerable chain for roughly $1.4. The CEO with the biggest audience is Hans Vestberg, CEO of American multinational telecommunications conglomerate Verizon Communications Inc. Vestbergs outlets boast a combined monthly readership of over 3.8 billion and include media powerhouses of the likes of Yahoo, AOL, Huff Post, TechCrunch, Engadget and Autoblog. Kris Barton, previously Gannett's chief product officer, who will take on the same role. [9], By 2013, GateHouse Media grew, operating in 330 markets across 21 states, but they found themselves in a debt situation that would prohibit future growth. Under terms of the deal, Apollo has the right to appoint two observers to the company's board and could appoint one or two voting directors if the company's debt exceeds its earnings by too great of a margin. New Medias Transaction Committee retained Jefferies LLC as its independent financial advisor, and Wilson Sonsini Goodrich & Rosati as its legal counsel. The newspapers were operated by GateHouse Media following the purchase. Its part of the problem in this country. Information about the directors and executive officers of Gannett is set forth in the proxy statement for its 2019 Annual Meeting of Stockholders, which was filed with the SEC on March 26, 2019. Your email address will not be published. New Media and Gannett will co-host a conference call to discuss the transaction and second quarter earnings on August 5, 2019 at 4:15 p.m. Eastern Time. But one area for growth is events, where New Media has a particularly strong business, Doctor said. But a great reputation can never be boughtonly earned and protected. Ownership News Corp is the parent company and officially owns the website and all its other outlets. Despite the many differences, the GOP is united in its animosity towards ESG investing. It's crucial because, at an interest rate of 11.5%, the Apollo loan could become onerous ifnot paid off quickly, said Tim Hynes, head of North American research for debt analysis service Debtwire. ABOUT US Gannett is a subscription-led and digitally focused media and marketing solutions company. [25], In August 2017, GateHouse announced it was purchasing 11 daily newspapers, 30 weeklies, and other assets from Morris Publishing Group, a division of Morris Communications. [3] [4] It is the largest U.S. newspaper publisher as measured by total daily circulation. Shareholders cleared the way Thursday for New Media Investment Group and USA TODAY owner Gannett to join forces in adeal that willcreatethe largest U.S.media company by print circulation and one that will also vie for the biggestonline news audience nationwide. In an analysis of 30 countries, researchers found that, on average, the top four media companies in each country hold 40% of that countrys media content market. Donald and Samuel Si Newhouse -Advance Publications. [1] Business units [ edit] Media properties [ edit] The New York Times The New York Times International Edition The New York Times International Weekly Such forward-looking statements speak only as of the date on which they are made. T, and has built the largest chain of local U.S. papers, including 156 dailies from the Austin American-Statesman to the Register-Guard in Eugene, Oregon. New Media CEO Mike Reed, who will become CEO of the new Gannett, told investors on Oct. 31 that "we feel great about the synergies.". digital offerings and high-quality journalism, Anticipated run-rate cost synergies of $275 - $300 million annually, As a result, we will accelerate the growth of the combined companys digital revenue through innovative customer experiences and new marketing solutions for businesses, while creating an expansive journalism network with the resources required to deliver unique and award-winning content. The combined companys Board of Directors will have nine members, including Mr. Reed as Chairman, five independent directors from New Media, and three independent directors from Gannett. The deal "gives us a much broader platform on which to build our digital businesses and to help each of these local markets to become engines of growth for us from a digital perspective," Gannett CEO Paul Bascobert said Thursday at the company's shareholder meeting, where the vote results were revealed. These options become exercisable upon the first trading day immediately following the first 20 consecutive trading day period in which the closing price of New Medias common stock (on its principal U.S. national securities exchange) is at or above $20 per share, and also upon a change in control and certain other extraordinary events. Cox Family Atlanta Journal-Constitution. Cox Enterprises, owned by the billionaire Cox family, counts The Atlanta Journal-Constitution and a number of other daily papers among its many media investments. Many view this not only as a moral obligation but also a measure for protecting their employer brand and ensuring access to talent in the future. Onemonth after taking Morningstar public in 2005, Mansuetobought Inc. and Fast Company magazine from G&J USA. Under that brand, the company has won several Pulitzer Prizes, expanded its investigative reporting and shared journalism resources. At least 82% of Gannett's shares werevoted in favor of the deal, Gannett chairman J. Jeffry Louis said. Republicans are at a crossroads over who should lead the party. To determine the companies and individuals that own the top news sites in the world, we identified the top owners of the news sites with the most monthly traffic as of December 2019. Several big-name newspaper companies Gannett, Knight Ridder, Lee, McClatchy, Pulitzer, Scripps, Dow Jones, The New York Times and The Washington Post raised capital for acquisitions by selling stock on either the New York or American stock exchanges. Or Eliminates certain payments otherwise due at or after the end of the term. Stockholders of New Media and Gannett are urged to read all relevant documents filed with the SEC, including the Registration Statement and the Joint Proxy Statement, as well as any amendments or supplements to these documents, carefully when they become available because they will contain important information about the proposed transaction. Faced with problems, it downsized to 270 by June 2005. 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