Nieman Foundation at Harvard
HOME
          
LATEST STORY
Newsweek is making generative AI a fixture in its newsroom
ABOUT                    SUBSCRIBE

Articles tagged Mike Reed (15)

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.
Worse, the two left standing could be run by hedge fund guys with little interest in more than the bottom line.
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?
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.