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Articles tagged MNG Enterprises (7)

The news industry’s own Doctor Octopus has stuck its tentacles deep into another newspaper chain — and it’s unlikely to be dislodged anytime soon.
Worse, the two left standing could be run by hedge fund guys with little interest in more than the bottom line.
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 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.
This hostile takeover didn’t work out. But the thinking of industry executives remains dominated by the inevitable merging of America’s big newspaper chains.