Nieman Foundation at Harvard
HOME
          
LATEST STORY
Newsonomics: There’s no Knight in shining armor coming to rescue McClatchy
ABOUT                    SUBSCRIBE

Articles tagged Gannett (162)

The Providence Journal’s former publisher calls its elimination of editorials “an affront to Rhode Islanders.” But Gannett’s knife keeps cutting.
The company’s stock can’t fall much lower, but the questions surrounding America’s largest newspaper chain are beginning to multiply.
By gutting local advertising overnight, COVID-19 has accelerated strategies — like cutting print days, corporate consolidation, or even closing down offices — that publishers had hoped could wait a while longer.
The multi-trillion-dollar CARES Act should extend a lifeline to many small local publishers. But for bigger companies and chains, the help they’ll receive is still up in the air — “It’s very unformed.”
It’s generated controversy over its fundraising, its paywall, and its staffing. But it’s also about as close as a major American city has gotten to a digital news site that can go toe-to-toe with the local daily newspaper.
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.