In recent years, Gannett has pursued a unified journalism and business strategy through the promotion of the USA TODAY Network, which includes all of its U.S. publications. Before that, he spent four years at Bloomberg LP as President of Bloomberg Businessweek from 2010 until 2014, in addition to serving as Chief Operating Officer of the Media Group from 2011 to 2014. (Reuters) - Local media company New Media Investment Group NEWM.N said on Monday it will buy USA Today-owner Gannett Co GCI.N in a $1.4 billion deal, creating the biggest newspaper owner. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Data on average visitor traffic for the past one to three months and the relative rank of each news site came from Alexa, an Amazon company, and market intelligence provider SimilarWeb. Great work. All Rights Reserved. Donald Newhouse and his brother Samuel Si Newhouse inheritedAdvance Publications, a privately-held media company that controls a plethora of newspapers, magazine, cable TV and entertainment assets, from their father. It is the largest newspaper in Central Texas. (212) 257-4170 This seems very strange. Gannett said it will later fill the chief marketing officerrole. This equates to a combined monthly readership of over 1 billion people. Online news media in the U.K. is dominated by publishers of traditional print media. [4] History [ edit] Liberty Group Publishing [ edit] For more information regarding New Media and to be added to its email distribution list, please visit www.newmediainv.com. Cohen previously served as Deputy Director of the CIA from 2015 to 2017. For news sites that are owned by investment firms with a majority stake, we opted for the CEO or director of the investment firm. [24] In June 2017, GateHouse announced it was purchasing Calkins Media Group's four six-day-a-week newspapers and Calkins Digital Group, a press facility and related websites and other digital operations. In the third quarter, Gannett's digital subscriptions rose 27% to 607,000, compared with the same period a year earlier, while New Media's rose 65% to 217,000 over the same stretch. ABOUT US Gannett is a subscription-led and digitally focused media and marketing solutions company. Total pro forma leverage at closing of the Merger is expected to be approximately 3.5x LTM As Adjusted EBITDA, before run-rate synergies, and 2.3x including run-rate synergies. GateHouse Media Inc. was an American publisher of locally based print and digital media. Contact Information Matt Esposito 1-703-854-3000 investors@gannett.com Investor Toolkit Latest Earnings Info LocaliQ $3.0+ Bill Scanlon will serve as interim head of UpCurve, which provides services to small and medium-sized businesses. It published 144 daily newspapers, 684 community publications, and over 569 local-market websites in 38 states. Additional Information and Where to Find It. Peter Schorsch Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida's most influential new media websites, including Florida Politics and Sunburn,. [6] It was renamed GateHouse and its headquarters moved to suburban Rochester, New York, in April 2006. For news sites that are owned or controlled by the government, the head of government was listed as the highest-level owner. This site uses Akismet to reduce spam. Zuckerman serves as chairman and editor-in-chief of U.S. News & World Report, which he bought in1984. All interested parties are welcome to participate. The companies believe that diversity can strengthen board performance and New Media is actively searching for women and other candidates with diverse backgrounds and experiences. 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. Powell: USdebt is 'on unsustainable path', Store releases ad with $129 Apple Watch, TV deals, In the third quarter, Gannett's digital subscriptions rose 27% to 607,000, Your California Privacy Rights/Privacy Policy. As media moguls continue to build their empires, and emerging conglomerates begin to expand into the news media industry, it is important to remain aware of who exactly owns the news. "The number is going to be higher.". The company expanded into business news coverage and has more than 2,000 reporters around the world. The newspapers were operated by GateHouse Media following the purchase. National online news media in Australia is essentially controlled by two companies: News Corp, through News Corp Australia, and Nine. 'Pivot' needed for digital transformation as merger is completed, Shareholders of USA TODAY owner Gannett and New Media Investment Group approve merger, New Media and Gannett announce board of directors for combined company, Your California Privacy Rights/Privacy Policy. The company was founded on June 18, 2013 and is headquartered in New York, NY. 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. Hogan sued Gawker after it published a sex tape. Adam Reinbach will serve as president and CEO of BridgeTower Media, which produces business, home furnishings,legislative and other digital and print publications and events. The Conversation is one of the only major online news sites in Australia that is independently owned. 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. We then used SimilarWeb to find out the estimated monthly visit figures of all the sites. Nexstar Media Group Completes Tribune Media Acquisition Creating the Nation's Largest Local Television Broadcaster. Gatehouse re-emerged from the planned bankruptcy in November 2013. With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Media runs in Hubbards family; his father started Minnesotas first commercial TV station in 1923. 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. 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. Deputy Director David S. Cohen. The rest of the combined companys senior executive team, which is expected to be composed of highly experienced leaders from both companies, will be announced at a later date. Many firms are masters at making money. [10] The company filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Wilmington, Delaware on September 27, 2013. For news sites that are owned or directly (or indirectly) controlled by the government (as is the case of the BBC, who since 2017 has had its board members selected by the UK government), the head of government was listed as the highest-level owner. or Copies will also be available at no charge in the Investor Relations sections of New Medias website, www.newmediainv.com and Gannetts website, www.gannett.com. List of assets owned by the New York Times Company (Redirected from List of assets owned by The New York Times Company) This is a list of assets owned by the New York Times Company. The healthcare industry is facing immense economic pressures. James Cox, the company founder and grandfather of current chairmanJim Kennedy, bought his first newspaper, the Dayton Ohio Evening News, in 1898. ir@newmediainv.com Christopher Ruddy has been serving as the CEO of the company since 1997. Club, into a new company named G/O Media Inc. Billionaire Red Sox owner John Henry purchased the Boston Globe in October 2013 for $70 million. Gannett's current CEO, Bascobert, will retain that title as head of the new company's operating subsidiary, also to be called Gannett. Initially, the combined company is expected to have an annual dividend of $0.76 per share. The Manager is restricted from selling these shares until the expiration of the Amended Management Agreement, or otherwise upon a change in control and certain other extraordinary events. Its parent company, New Media Investment Group, merged with Gannett in 2019. In exchange, New Media will issue to the Manager upon closing approximately 4.2 million shares of New Media common stock. 2023 Forbes Media LLC. Vinod Adani was at the heart of two massive Adani Group deals with French energy giant TotalEnergies, according to Indian filings. Republicans are at a crossroads over who should lead the party. Sheldon Adelson The Las Vegas Review-Journal. We see numerous opportunities to leverage the combined companys enhanced scale and financial strength to continue to drive growth in the digital future. 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. New Media Investment Group Inc. (NYSE: NEWM) supports small to mid-size communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to small and medium business partners. We then isolated the 20 companies with the most visited sites in each geography, as well as other newsworthy media companies, and identified all of the properties in their online media portfolios, as well as the name of their highest-level owners, using financial filings, corporate press announcements, and other public sources. The Guardian is owned by the Scott Trust Limited, which exists solely to control the finances of the Guardian and ensure its editorial independence. He said the question from a subscriptionpoint of viewis whether those investments are enough to create "news that's worth paying for.". [5] The Globe was previously owned by the New York Times for twenty years. Such forward-looking statements speak only as of the date on which they are made. Conde Nast, a unit of Advance Publications, publishes magazines including Wired, Vanity Fair, The New Yorker and Vogue. Investors may obtain additional information regarding the interest of such participants by reading the Registration Statement and the Joint Proxy Statement (once available). Bloombergcofounded his financial data company in 1981 withCharles Zegar andThomas Secunda, both of whom are now billionaires as well thanks to their minority equity stakes in Bloomberg LP. While its mail is delivered from the Pittsford, NY 14534 post office, GateHouse's headquarters lie about a third of a mile east of the eastern border of, Last edited on 23 February 2023, at 23:45, U.S. Bankruptcy Court in Wilmington, Delaware, List of newspapers owned by GateHouse Media, "Gannett, Now Largest U.S. Since beginning his run for president, Trump has accused Bezos of using the Post to get tax breaks for Amazon and sending reporters after Trump. Its part of the problem in this country. The combined company will be called Gannett and will own more than 260 daily publications, as well ashundreds of weeklies. Gannett will be acquired by New Media Investment Group, which owns Gatehouse. In April 2019, for example, private equity firm Great Hill Partners acquired the Gizmodo Media Group and The Onion, and combined their digital news assets, which include Gizmodo, Jezebel, and The A.V. In 2012, Berkshire Hathaway acquired 63 daily newspapers and weeklies in Virginia, North Carolina, South Carolina and Alabamafrom Media General for $142 million. How to Pin Folders and Files to Finder Menu, How To Autofill Letters from A-Z in Excel. In December 2014, Las Vegas casino billionaire Sheldon Adelson secretly bought the Las Vegas Review-Journal. "In digital form, the USA TODAY Network is one of the reasons to do this deal," Doctor said. Warren Buffett, as CEO of Berkshire Hathaway, has invested in a number of small newspapers and owns about 70 dailies today. Use Forbes logos and quotes in your marketing. Samantha Howland, previously senior vice president of human resources for GateHouse, who will serve as chief people officer. New Media is one of the largest publishers of locally based print and online media in the United States as measured by its 154 daily publications. [3] [4] With its acquisition of Tribune Publishing in late . 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Mike Reed will serve as CEO of the newly combined public company, which took on the name of Gannett Co. when the merger was finalized Tuesday. Ashley Higgins, New Media Investor Relations Kris Barton, previously Gannett's chief product officer, who will take on the same role. Investors: In addition to its national presence through USA TODAY, the new Gannett will operatenews organizations in 47 states and Guam, as well as the United Kingdom. (212) 479-3160 For the new Gannett, the key challenge will be offsetting continued print declines with digital revenue. In August 2019, it was announced that New Media Investment Group had reached an agreement to merge Gannett into GateHouse Media. 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. Neither New Media nor Gannett can give any assurance that its expectations will be attained. The Hearst name, for example, first appeared on a newspaper masthead in 1887. "If it turns out that the management team doesnt hit their plans, theyll be more assertive as time goes on," Hynes said of Apollo. While a billionaire secretly funding a lawsuit to take down a news outletmay be a new way of using money to influence the media business, billionaires have long exerted influence on the news simply by owning U.S. media outlets. With strategically-aligned leadership and significant scale of operations, the Merger will accelerate the combined companys digital transformation. Come procurarsi un indirizzo IP del Regno Unito dalla Cina: 5 semplici modi, veloci e sicuri. In that role, Cohen helped manage the Agency's worldwide operations, oversee strategic modernization of the Agency, and lead foreign intelligence collection, analysis, and action. 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. Joe Mansueto Inc. and Fast Company magazines, Morningstar CEO Joe Mansueto made his $2.3 billion fortuneat the investment and research firm he founded in 1984. 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. [23] In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. [31] The Beacon Journal is a daily newspaper tracing its storied, Pulitzer Prize-winning history to 1839's Summit Beacon, which early in the 20th century came under the editorship and ownership of publisher Charles Landon Knight, serving as the flagship newspaper of the Knight Newspaper Company, later known as Knight Ridder.[32]. Jonathan Gasthalter/Nathaniel Garnick "Youll definitely get some economies of scale" and "a lot of savings in the corporate offices" and printing sites, he said. The Posts reporters alsodefended themselves, sayingthat the paper has covered Amazons tax problems and that the Posts editorial boards stance on taxing online retailers hasnt changed since Bezos bought the paper. Less than a year later, the companywentbankrupt. Alison Engel expected to become Chief Financial Officer; digital offerings and high-quality journalism, Anticipated run-rate cost synergies of $275 - $300 million annually, Accelerate digital strategy. [28], In February 2018, GateHouse announced the acquisition of Kirk Davis's independently owned Holden Landmark Corporation for an undisclosed sum. Leading Local Content Distribution and Marketing Solutions Platform Now Reaches 15 of the Top 25 U.S. Markets; Produces over 254,000 Hours of Locally-. One ultra-wealthy media investor not mentioned in the story: Mexican billionaire Carlos Slim Helu, who owns the largest individual stake in the Times. The nation's two largest newspaper groups plan to merge. Forbes also found that Vinod is nearly five times richer than previously known. "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.". Jay Fogarty, previously senior vice president for corporate development at GateHouse, who will serve in that role for the new company. "Weve spent a lot of time carefully selecting the management team for the company, and itll be a good blend of the two companies on the management team, which will help the culture issue," Reed said. Through its subsidiary Local World Holdings Ltd., Reach PLC owns more than five dozen regional newspapers and their corresponding websites. Southern Kitchen, launched by Cox Media Group (CMG) in 2017, is a blend of e-commerce and content. Revenue "I don't think this is going to be a lay-up," he said. Also based in the US are the Newhouse family, who have built a media empire that includes 47 titles, with a combined monthly readership of 1.5 billion. [citation needed], In June 2005, Fortress Investment Group bought Liberty for $527 million. 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. Please visit www.newmediainv.com and www.gannett.com. As the largest shareholder, his investment allows him to vote for approximately one . In a joint interview, Reed and Bascobert said they assembled their executive team with an eye on cohesion as the company aims to become a digital media powerhouse. Media mogul Stanley Hubbard is CEO ofHubbard Broadcasting, which has 13 TV stations, including a number of ABC and NBC news affiliates in the Midwest, and48 radio stations. Social media news isnt news. From 1987 to 2006, Australia had specific legislation limiting foreign ownership of media companies on the continent, as well as restrictions on cross-ownership of media companies meant to preserve the diversity of news media. Twitter CEO Elon Musk called the media racist in several tweets on Sunday in a strange reaction to the news that the countrys biggest newspapers were dropping the Dilbert comic strip. Patrick Soon-Shiong Tribune Publishing Co. OnMay 23, Tribune Publishing Co. announced that L.A. doctor and pharmaceutical billionairePatrick Soon-ShiongsNant Capital was investing $70.5 million into the media company, making Soon-Shiongthe second-largest shareholder. "Our commitment to build those brands is even stronger than ever. New Media shareholders will own 50.5% of the combined company, while Gannett stockholderswill own 49.5%. Mike Reed will serve as. MNG Enterprises, Inc., doing business as Digital First Media and MediaNews Group, is a Denver, Colorado -based newspaper publisher owned by Alden Global Capital. Prior to XO, Mr. Bascobert led sales, service, and marketing for the Local Businesses segment at Yodle from 2014 until 2016. United Kingdom: Oxford University Press. Bezos denied the allegations at a tech conference at the Washington Post in May. [15] They also acquired Dolan Media Group[16] and Journal Multimedia,[17] adding business publications to their portfolio. We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism. For news sites that are owned by investment firms with a majority stake, the CEO or director of the investment firm was listed as the highest-level owner. Faced with problems, it downsized to 270 by June 2005. Supplemental information regarding the transaction will be posted to the Investor Relations section of each companys website. In 2009, Bloomberg LP bought Business Week magazine from McGraw Hill for a reported $5 million plus assumption of debt. Copyright 2006 by The Gale Group, Inc", GateHouse Media stock being delisted from NYSE - October 22, 2008, "GateHouse Buying 14 Dailies, Other Pubs, From Morris For $115 Million", "News Corp. sells 33 papers to New York investors", "GateHouse Media Files for Pre-packaged Chapter 11", "GateHouse Media officially done with bankruptcy", "GateHouse Media Files Chapter 11 to Form New Company", "GateHouse Media to Buy Morris Communications", "GateHouse acquires News-Journal, Halifax Media", "Review-Journal, parent Stephens Media to be sold to New Media", "Sheldon Adelson's Purchase of Las Vegas Paper Seen as a Power Play", "GateHouse to acquire Kansas-based Harris newspapers", "Fox Business - GateHouse Media Buys Dix Communications Newspaper Chain", "Business Wire - New Media Announces Agreement to Acquire Calkins Media", "GateHouse acquires Morris Publishing's 11 daily newspapers", "Providence Journal parent buys publisher of Newport Daily News", "The Register-Guard sold to GateHouse Media", "GateHouse Media grows its empire by buying top exec's publishing company", "New Media Investment Group to Acquire The Palm Beach Post and Palm Beach Daily News", "Gatehouse Media purchases Akron Beacon Journal", GateHouse Media Buys Akron Beacon Journal and Ohio.com, "New Media Announces Solid Fourth Quarter & Full Year 2018 Results, Dividend of $0.38 per Common Share", "Herald-Times, Other Local Papers Sold To GateHouse Media", "GateHouse Media to acquire New Jersey Herald", "USA Today owner Gannett merges with GateHouse Media to form massive newspaper company", "New Media Investment Group to Acquire Gannett", https://en.wikipedia.org/w/index.php?title=GateHouse_Media&oldid=1141218731, This page was last edited on 23 February 2023, at 23:45. Another is digital marketing services, where Gannett's recently appointed CEO, Bascobert, is devising a strategy for growth. Several names are synonymous with media domination around the world: News Corp in the United States, the U.K., and Australia, Globo in Brazil, Yomiuri Shimbun in Japan. It's also important to point out that the same person with Fox News ownership, Rupert Murdoch, owns News Corp with the same 39% share, and News Corp owns the New York Post, HarperCollins, and the Wall Street Journal. [36][37] The acquisition of Gannett by New Media Investment Group was completed on November 19, 2019, making the combined company the largest newspaper publisher in the United States. While many believed the internet would bring openness and diversity to the worlds media, online news media has become increasingly consolidated over the past several decades. 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The newspapers own reporting outed the billionaire buyer, who reportedly arranged the $140 million deal through his son-in-law. The last step was to put a name (and a face) to each company by identifying the highest-level owners. It published 144 daily newspapers, 684 community publications, and over 569 local-market websites in 38 states. Donald and Samuel Si Newhouse -Advance Publications. Arbor Advisory Group Chief Executive Officer of the combined companys operating subsidiary, Strategically-aligned leadership committed to expanding and promoting Washington Post executive editor Martin Baron and, Amazon founder Jeff Bezos, who owns the Washington Post, on stage at the Posts Transformers conference in May 2016. Doug Arthur, an analyst at Huber Research Partners in Connecticut, estimatescost savings of $245 million annuallybeginning in the third year of the new company. NEW YORK & MCLEAN, Va.--(BUSINESS WIRE)--New Media Investment Group Inc. (New Media) (NYSE: NEWM) and Gannett Co., Inc. (Gannett) (NYSE: GCI) announced today that New Media and Gannett have entered into a definitive agreement (the Merger Agreement) pursuant to which New Media will acquire Gannett for a combination of cash and stock (the Merger). In connection with the proposed transaction, New Media intends to file with the SEC a registration statement on Form S-4 (the Registration Statement), which will include a prospectus with respect to shares of its common stock to be issued in the proposed transaction and a joint proxy statement for New Medias stockholders and Gannetts stockholders (the Joint Proxy Statement), and each of New Media and Gannett will mail the Joint Proxy Statement to their respective stockholders and file other documents regarding the proposed acquisition with the SEC. Advance Publications, which was founded by Samuel Irving Newhouse Sr. in 1922 and is still family-owned today, has a portfolio that includes Reddit, Vanity Fair, The New Yorker, and American City Business Journals. Today Hearst Communications owns dozens of newspapers and magazines throughout the country, each with a significant online presence. 104.7 KCMB, 102.3 The River, NewsTalk103, 92.9 The Hawk, 94.5 KJDY . Jeff Gordon, a regional vice president for The NewsGuildwhose region represents journalists at four GateHouse newsrooms, expressed fears that the deal will lead to further distress for journalists who have already faced budget reductions. In March a jury awarded Hogan $140 million in damages. 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. This communication may be deemed to be solicitation material in respect of the proposed transaction between New Media and Gannett. Stacy Cunningham, Gannett Vice President, Financial Planning & Investor Relations The company has been growing its portfolio and as of May 2021, owns over 100 newspapers and 200 assorted other publications. Paul Bascobert, newly appointed Chief Executive Officer of Gannett, will become As the concentration of online news has increased, so has public distrust in mass media. 1:00 NEW YORK New Media Investment Group Inc., the public parent company of GateHouse Media, the owner of the Telegram & Gazette, has signed an agreement to acquire Gannett Co. Inc.. FTI is one of several vendors who say they've gone unpaid by the youth media company . New Media, operating as Gatehouse Media, has also expanded its investigative reporting team. 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. Polly Grunfeld Sack, general counsel and senior vice president of New Media's operating division, GateHouse Media, who will serve as general counsel. NordVPN includes a 30-day money-back guarantee. Forward-looking statements are based on New Medias and Gannetts respective managements current expectations and beliefs and are subject to a number of known and unknown risks, uncertainties and other factors that could lead to actual results materially different from those described in the forward-looking statements. The companies can now move forward to finalize the deal, which is expected to close Tuesday, Nov. 19, "subject to the satisfaction of customary closing conditions," New Media said in a statement. 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