The vulture fund may be just fine with waiting a bit longer to make its next move to consolidate the local newspaper industry. Meanwhile, newsrooms wait.
Tribune and McClatchy are both approaching critical deadlines that could lead to mergers, divisions — or even the first big nonprofit newspaper chain in the United States.
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?
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.
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?
Doctor, Ken. "Newsonomics: With its merger approved, the new Gannett readies the cost-cutting knife." Nieman Journalism Lab. Nieman Foundation for Journalism at Harvard, 14 Nov. 2019. Web. 13 Jul. 2020.
APA
Doctor, K. (2019, Nov. 14). Newsonomics: With its merger approved, the new Gannett readies the cost-cutting knife. Nieman Journalism Lab. Retrieved July 13, 2020, from https://www.niemanlab.org/2019/11/newsonomics-with-its-merger-approved-the-new-gannett-readies-the-cost-cutting-knife/
Chicago
Doctor, Ken. "Newsonomics: With its merger approved, the new Gannett readies the cost-cutting knife." Nieman Journalism Lab. Last modified November 14, 2019. Accessed July 13, 2020. https://www.niemanlab.org/2019/11/newsonomics-with-its-merger-approved-the-new-gannett-readies-the-cost-cutting-knife/.
Wikipedia
{{cite web
| url = https://www.niemanlab.org/2019/11/newsonomics-with-its-merger-approved-the-new-gannett-readies-the-cost-cutting-knife/
| title = Newsonomics: With its merger approved, the new Gannett readies the cost-cutting knife
| last = Doctor
| first = Ken
| work = [[Nieman Journalism Lab]]
| date = 14 November 2019
| accessdate = 13 July 2020
| ref = {{harvid|Doctor|2019}}
}}
