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Articles tagged Mike Reed (10)

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?
A combined GannHouse (Gatenett?) would own 1 out of every 6 daily newspapers in America. The goal? Buy two or three more years to figure out how to make money in digital.
A combined company would own 1 of every 6 daily newspapers in America — and a little more breathing room. But eventually, there has to be a plan beyond just getting bigger.
“Content is our number-one priority,” Reed said. But he’s unwilling to publicly commit to any new level of funding or staffing to meet that goal.
“We’re never going to beat Google and Facebook in advertising. Let’s focus on what we can beat them at, and that’s being local and selling business owners something that they need terribly.”
The company — a giant bet on acquisition, consolidation, and cost-cutting — now owns more than 1 out of 10 American daily newspapers. What it plans to do with them remains unclear.
A leadership void in newspaper companies has opened up local journalism further to private equity firms looking to vacuum out profits.
As single-minded, profit-driven management drives down the local news business, where is its moral center — the one that long rested, if sometimes uncomfortably, alongside the demands of running a successful business?
Bidders are preparing their final bids for a hodgepodge collection of small and large newspapers from coast to coast. Will another company — or private equity — swoop them all up as one?