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Newsonomics: Tomorrow’s life-or-death decisions for newspapers are suddenly today’s, thanks to coronavirus
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Articles tagged Gannett (160)

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.
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?