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Articles tagged Gannett (157)

Will Chatham Asset Management, the hedge fund set to gain control of the company, want to operate it after bankruptcy? Or will it look to cash out via merger as quickly as possible?
That makes Cox buying back the “daily” newspaper it sold to Apollo Global Capital a year ago a rare newspaper win-win-win.
By selling Berkshire Hathaway’s newspapers to Lee Enterprises, the world’s most successful investor is acknowledging the industry’s downhill slide is not near an end.
Worse, the two left standing could be run by hedge fund guys with little interest in more than the bottom line.
Astonishingly, history might argue that Sam Zell was only the third-worst owner in recent Tribune history.
What was once expected to be $200 million in annual cost savings has now grown to $400 million or more. But how much blood is left to be drawn from this stone?
The number of employees soon to be cut at the No. 1 U.S. newspaper chain is about the same number as the No. 2 chain has in total. But newsrooms should mostly be spared — for now.
What will the largest local news company need to do and be to be successful in the 2020s? Neither Gannett nor Gatehouse has offered any big vision of what that is, or could be, even fueled by new money.
The merger of the United States’ No. 1 and No. 2 newspaper chains will likely spark a new wave of consolidation among its smaller competitors. But will the potential cost savings be eaten up by debt payments to financiers?