"The number is going to be higher.". Mr. Bascobert was the President of XO Group from 2016 until its sale to Permira Equity in 2019. Peter Schorsch Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida's most influential new media websites, including Florida Politics and Sunburn,. The companies believe that diversity can strengthen board performance and New Media is actively searching for women and other candidates with diverse backgrounds and experiences. Cox Enterprises, owned by the billionaire Cox family, counts The Atlanta Journal-Constitution and a number of other daily papers among its many media investments. Under their umbrella, youll find prominent titles such as USA Today, Detroit Free Press, The Columbus Dispatch, The Arizona Republic, and the Austin American-Statesman. New Media and Gannett believe that a digital transformation of the newspaper industry is vital to the preservation of journalism, and the Merger will accelerate the combined companys digital transformation. [31] The Beacon Journal is a daily newspaper tracing its storied, Pulitzer Prize-winning history to 1839's Summit Beacon, which early in the 20th century came under the editorship and ownership of publisher Charles Landon Knight, serving as the flagship newspaper of the Knight Newspaper Company, later known as Knight Ridder.[32]. If you need a VPN for a short while when traveling for example, you can get our top ranked VPN free of charge. Tech giants like Microsoft and Amazon owner Jeff Bezos, as well as telecommunications conglomerates such as Verizon and AT&T, now rank among the top owners of the worlds media. Mexican billionaire Carlos Slim owns 17.4 percent of The New York Times through the company's Class A shares. The Posts reporters alsodefended themselves, sayingthat the paper has covered Amazons tax problems and that the Posts editorial boards stance on taxing online retailers hasnt changed since Bezos bought the paper. Arbor Advisory Group [27], In January 2018, GateHouse announced its purchase of Oregon's second-largest daily newspaper, The Register-Guard. This communication is neither an offer to sell, nor a solicitation of an offer to buy any securities, the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Media: While many believed the internet would bring openness and diversity to the worlds media, online news media has become increasingly consolidated over the past several decades. Through its subsidiary Local World Holdings Ltd., Reach PLC owns more than five dozen regional newspapers and their corresponding websites. New Media owns 152 daily publications including The Palm Beach Post, The Columbus Dispatch, The Oklahoman andAustin American-Statesman as well as284 weekly newspapers operated as GateHouse Mediaand digital marketing assets like ThriveHive. Sam Levenson Through outlets such as PBS and NPR, the BBC, and the Australian Broadcasting Corporation, the governments of the United States, the U.K., and Australia all have significant media holdings. In a statement at the time, he wrote, I wasnt looking to buy a magazine. News Corp, through News Corp UK, and Daily Mail and General Trust plc own many of the largest national news sites in the U.K. List of assets owned by the New York Times Company (Redirected from List of assets owned by The New York Times Company) This is a list of assets owned by the New York Times Company. [7] On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications. [23] In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. He said the question from a subscriptionpoint of viewis whether those investments are enough to create "news that's worth paying for.". The terms involved the cancellation of shares of Gatehouse, but those owners receiving warrants to buy shares in New Media Investment Group Inc.[11][12], Subsequently, Gatehouse Media acquired several newspaper groups between 2014 and 2017, including Halifax,[13] Stephens Media,[14] Calkins Media and Morris Publications. Come procurarsi un indirizzo IP del Regno Unito dalla Cina: 5 semplici modi, veloci e sicuri. For more information regarding New Media and to be added to its email distribution list, please visit www.newmediainv.com. News that billionaire Peter Thielis funding Hulk Hogans trial against news website Gawker set the media and technology worlds on fire last week, sparking a conversation about theultra-wealthys role incontrolling the news. Use Forbes logos and quotes in your marketing. Contact Information Matt Esposito 1-703-854-3000 investors@gannett.com Investor Toolkit Latest Earnings Info LocaliQ $3.0+ Tax equity investing can be a complex and challenging process, especially for investors who are exploring this type of investment for the first time. Slim more than doubled his stake in The New York Times in June 2015 to approximately 17% of the media company. The company has been growing its portfolio and as of May 2021, owns over 100 newspapers and 200 assorted other publications. The company was founded on June 18, 2013 and is headquartered in New York, NY. Sheldon Adelson The Las Vegas Review-Journal. Gannett had about 16,980 employees at the end of 2018, while GateHouse had about 10,638 employees, according to their securities filings. digital offerings and high-quality journalism, Anticipated run-rate cost synergies of $275 - $300 million annually, Advance owns newspapers in 25 cities and towns across America and isthe countrys largest privately-held newspaper chain. [22], In November 2016, GateHouse announced the purchase of Harris Enterprises, based in Hutchinson, Kan., which operated six daily newspapers in Kansas and Iowa. A California parole board voted to release Sirhan from his life sentence two years ago, but Gov. Jonathan Gasthalter/Nathaniel Garnick The biggest media conglomerates in America are AT&T, Comcast, The Walt Disney Company, National Amusements (which includes Viacom Inc. and CBS), News Corp and Fox Corporation (which are both owned in part by the Murdochs), Sony, and Hearst Communications. Si stepped down as chairman of Conde Nast in 2015. The healthcare industry is facing immense economic pressures. [4] Immediately after the merger was finalized, all GateHouse Media URLs began redirecting to Gannett.com. Together, the new company's publications and digital marketing services will be under pressure to stem revenue declines. Adam Reinbach will serve as president and CEO of BridgeTower Media, which produces business, home furnishings,legislative and other digital and print publications and events. The new Gannett's nine-person board will consist of Reed plus five New Media appointees and three Gannett appointees. In that role, Cohen helped manage the Agency's worldwide operations, oversee strategic modernization of the Agency, and lead foreign intelligence collection, analysis, and action. The breadth and depth of each companys digital offerings will make the combined company a leading digital media player. United Kingdom: Oxford University Press. Other top In separate votes, shareholders of each company approved New Media's $1.13billion acquisition of Gannett. Jason Taylor, previously president of New Media Ventures and GateHouse Live, the company's events business, will serve as president of events and promotions at the new company. They are BlackRock, Vanguard and State Street. Uniting our talented employees and complementary portfolios will enable us to expand our comprehensive, hyperlocal coverage for consumers, deepen our product offering for local businesses, and accelerate our shift from print-centric to dynamic multimedia operations. (703) 854-3168 This equates to a combined monthly readership of over 1 billion people. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Bill Church, Senior VP News; Liberty Group Publishing was formed in 1998 when Kenneth L. Serota, a former Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. To connect with Gannett, visit www.gannett.com. Chief Executive Officer of the combined companys operating subsidiary, Strategically-aligned leadership committed to expanding and promoting Cautionary Statement Regarding Forward-Looking Statements. Investors: The CEO with the biggest audience is Hans Vestberg, CEO of American multinational telecommunications conglomerate Verizon Communications Inc. Vestbergs outlets boast a combined monthly readership of over 3.8 billion and include media powerhouses of the likes of Yahoo, AOL, Huff Post, TechCrunch, Engadget and Autoblog. "The combined operations will have a broad local-to-national network of incredibly talented, experienced journalists who can continue to deliver unique award-winning content for both local communities and national audiences," Bascobert told investors in a conference call Nov. 4. Heres how you can use AI to build your portfolio. The Gannett Board unanimously determined that this combination with New Media is in the best interests of Gannett shareholders, customers, audiences, and employees, providing significant and immediate value, as well as the ability to benefit from the upside potential of the combined company, said J. Jeffry Louis, Chairman of the Gannett Board of Directors. Kirk Davis, operating company CEO;[2] [8], The company received notification from the New York Stock Exchange (NYSE) on August 21, 2008, that it had fallen below the NYSE's continued listing standards for average global market capitalization over a consecutive 30-trading-day period of not less than $75 million and $1.00 average closing price, and had submitted a business plan to the NYSE Regulation for coming back into compliance for continued listing. [1] Despite these restrictions, today Australia has a relatively high degree of media concentration. Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally focused media and marketing solutions company committed to strengthening communities across its network. NordVPN includes a 30-day money-back guarantee. The combined company will be called Gannett and will own more than 260 daily publications, as well ashundreds of weeklies. It listed assets of $433.7 million and debt of $1.3 billion. "Weve spent a lot of time carefully selecting the management team for the company, and itll be a good blend of the two companies on the management team, which will help the culture issue," Reed said. This communication may be deemed to be solicitation material in respect of the proposed transaction between New Media and Gannett. Certain statements in this communication may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect New Medias and Gannetts current views regarding, among other things, the proposed transaction between New Media and Gannett, the expected timetable for completing the proposed transaction, the benefits and synergies of the proposed transaction and future opportunities for the combined company, as well as other statements that are other than historical fact. Key executives, who will report to Bascobert, include: In addition, Henry Faure Walker will serve as CEO of Newsquest Media Group, a publishing arm in the United Kingdom. As the largest shareholder, his investment allows him to vote for approximately one . It delivers content and products related to eating, drinking, and entertaining with a Southern flair. The webcast replay of the conference call will also be available approximately two hours following the completion of the call on the Investor Relation section of each companys website. Under that brand, the company has won several Pulitzer Prizes, expanded its investigative reporting and shared journalism resources. Or two, for that matter.I bought them because Im passionate about their missions. Before that, he spent four years at Bloomberg LP as President of Bloomberg Businessweek from 2010 until 2014, in addition to serving as Chief Operating Officer of the Media Group from 2011 to 2014. Today Hearst Communications owns dozens of newspapers and magazines throughout the country, each with a significant online presence. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Google, per-se, is not a news company , Your email address will not be published. Words such as anticipate(s), expect(s), intend(s), plan(s), target(s), project(s), believe(s), will, aim, would, seek(s), estimate(s) and similar expressions are intended to identify such forward-looking statements. Kevin Gentzel, previously president of USA TODAY Network Marketing Solutions, who will serve as chief revenue officer. Such forward-looking statements speak only as of the date on which they are made. Ownership News Corp is the parent company and officially owns the website and all its other outlets. In recent years, asset management firms and private investors have increasingly bought majority stakes in legacy newspapers and have come to dominate the list of the top media owners worldwide. In 2009, Bloomberg LP bought Business Week magazine from McGraw Hill for a reported $5 million plus assumption of debt. Employers continue to invest in people services that demonstrate care for their people, in spite of pressures to cut costs. Bezos denied the allegations at a tech conference at the Washington Post in May. [5] Their no-questions-asked cancellation policy lives up to its name. Faced with problems, it downsized to 270 by June 2005. Inaddition to USA TODAY, Gannett owns 109 local media properties operated as the USA TODAY Network including the Arizona Republic, Detroit Free Press, Milwaukee Journal Sentinel and Indianapolis Star as well as United Kingdom-based Newsquest Media Group and digital marketing assets like WordStream. Some bought television stations and magazines, too. Donald Newhouse and his brother Samuel Si Newhouse inheritedAdvance Publications, a privately-held media company that controls a plethora of newspapers, magazine, cable TV and entertainment assets, from their father. At least 82% of Gannett's shares werevoted in favor of the deal, Gannett chairman J. Jeffry Louis said. Twitter CEO Elon Musk called the media racist in several tweets on Sunday in a strange reaction to the news that the countrys biggest newspapers were dropping the Dilbert comic strip. 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[citation needed], In June 2005, Fortress Investment Group bought Liberty for $527 million. Compelling Strategic & Financial Benefits. (Reuters) - Local media company New Media Investment Group NEWM.N said on Monday it will buy USA Today-owner Gannett Co GCI.N in a $1.4 billion deal, creating the biggest newspaper owner. Our latest study shows the current state of media consolidation around the world. New Media, operating as Gatehouse Media, has also expanded its investigative reporting team. As part of the combination, New Media Investment Groups operator, Fortress Investment Group,will continue to operate the combined company. Henry agreed to purchase the Globe just days after Bezos acquired the Washington Post. One notable sign of his influence on the publication: MichaelBloomberg doesnt appear on Bloombergs Billionaires Index. In December 2014, Las Vegas casino billionaire Sheldon Adelson secretly bought the Las Vegas Review-Journal. Paul Bascobert will serve as CEO of the new company's operating subsidiary, Gannett Media Corp., as previously announced. May 21, 2021 Tribune Publishing, the owner of some of the largest metropolitan newspapers in the United States, will be acquired by a hedge fund with a reputation for slashing costs and cutting. 91 were here. It intends to operate newspaper, media directory and other media content businesses. Gannett Co., Inc. owns USA Today and over 250 dailies. It's crucial because, at an interest rate of 11.5%, the Apollo loan could become onerous ifnot paid off quickly, said Tim Hynes, head of North American research for debt analysis service Debtwire. Some of the top media owners in the U.S. have dominated the news media landscape for over a century, and continue to grow in the era of digital news. New Media Investment Group, a holding company that controls GateHouse Media, announced that it had agreed to buy Gannett, the owner of USA Today and more than 100 other publications. Patrick Soon-Shiong Tribune Publishing Co. OnMay 23, Tribune Publishing Co. announced that L.A. doctor and pharmaceutical billionairePatrick Soon-ShiongsNant Capital was investing $70.5 million into the media company, making Soon-Shiongthe second-largest shareholder. Several names are synonymous with media domination around the world: News Corp in the United States, the U.K., and Australia, Globo in Brazil, Yomiuri Shimbun in Japan. The deal "gives us a much broader platform on which to build our digital businesses and to help each of these local markets to become engines of growth for us from a digital perspective," Gannett CEO Paul Bascobert said Thursday at the company's shareholder meeting, where the vote results were revealed. Altogether, his family controls 120 newspapers across five countries. Also based in the US are the Newhouse family, who have built a media empire that includes 47 titles, with a combined monthly readership of 1.5 billion. Align to Preserve and Enhance Quality Journalism, Creates the leading U.S. print and digital news organization with deep local roots and nationwide scale, Michael Reed to remain Chairman of the Board of Directors and Chief Executive Officer; On July 2, 2018, GateHouse acquired SouthernKitchen.com, the Atlanta-based Southern food and lifestyle brand. Enhanced scale. Dix Communications operates in northeastern and east-central Ohio, including more than 30 daily and weekly newspapers. The New York Times published an article last Fridaycriticizing the power that billionaires wield over media companies. The companies can now move forward to finalize the deal, which is expected to close Tuesday, Nov. 19, "subject to the satisfaction of customary closing conditions," New Media said in a statement. Bernie Szachara, previously president of newspaper operations for GateHouse, who will serve as president of U.S. publishing operations. New Media is one of the largest publishers of locally based print and online media in the United States as measured by its 154 daily publications. The majority of synergies is expected to be realized within 24 months of closing and result from the increased scale of the new organization, sharing of best practices, leveraging existing infrastructure, facility rationalization and other judicious cost reductions. Jeff Gordon, a regional vice president for The NewsGuildwhose region represents journalists at four GateHouse newsrooms, expressed fears that the deal will lead to further distress for journalists who have already faced budget reductions. This means that publications under the direction of Verizon Communications reach an incredible 52% of the worlds population. For news sites that are owned or directly (or indirectly) controlled by the government (as is the case of the BBC, who since 2017 has had its board members selected by the UK government), the head of government was listed as the highest-level owner. The new Gannett has more than 250 daily publications, including USA TODAY, as well as several hundred weeklies and an array of digital marketing services. Today's graphic, created by TitleMax, is a broad look at who owns U.S. news media outlets. One name towers above all the rest when it comes to owning media outlets, and that name is Michael Reed and hes the CEO of New Media Investment Group. The cash and stock deal values Gannett at about $1.4 billion. [3] [4] With its acquisition of Tribune Publishing in late . Alison Engel, Gannetts current Chief Financial Officer, is expected to serve as the Chief Financial Officer of the combined organization upon closing. [19] As of April 2018, GateHouse Media was publishing 144 daily newspapers, 684 community publications, and over 569 local market websites in 38 states. Bill Scanlon will serve as interim head of UpCurve, which provides services to small and medium-sized businesses. But financial challenges in the industry haveproved to be an obstacle in Gannetts quest to remake itself, asdigital advertising and consumer revenuehavebeen less lucrative than in print. Fox News is owned by the Fox Corporation, which is owned in part by the Murdoch Family (39% share). How to Pin Folders and Files to Finder Menu, How To Autofill Letters from A-Z in Excel. [9], By 2013, GateHouse Media grew, operating in 330 markets across 21 states, but they found themselves in a debt situation that would prohibit future growth. "In digital form, the USA TODAY Network is one of the reasons to do this deal," Doctor said. Prior to XO, Mr. Bascobert led sales, service, and marketing for the Local Businesses segment at Yodle from 2014 until 2016. The combined group of business publications was rebranded as BridgeTower Media.[18]. Celta Vigo Star Gabri Veiga Is Alerting Wealthy Teams In The Premier League, RFK Killer Sirhan Sirhan Denied Parole For 16th TimeReversing 2021 Decision, Wednesday, March 1. Nathan Bomey USA TODAY Gannett on Wednesday named a mix of leaders from the old Gannett and its acquirer, New Media Investment Group, to lead the media company. [36][37] The acquisition of Gannett by New Media Investment Group was completed on November 19, 2019, making the combined company the largest newspaper publisher in the United States. The Guardian is owned by the Scott Trust Limited, which exists solely to control the finances of the Guardian and ensure its editorial independence. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially from expectations or estimates reflected in such forward-looking statements, including, among others: Additional risk factors that could cause actual results to differ materially from expectations include, but are not limited to, the risks identified by New Media and Gannett in their respective most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Bascobert, who has a background in e-commerce as well as media, will now serve as. Entertainment Group. Gatehouse, now called Gannett, has been operated by Fortress Investments, a New York private equity firm, in turn owned by Softbank, the diversified Japanese tech firm. We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism. Gannett Co., Inc. ( / nt /) is an American mass media holding company headquartered in Tysons, Virginia, in the Washington, D.C., metropolitan area. full access for 30 days and then you cancel for a full refund. 'Pivot' needed for digital transformation as merger is completed, Shareholders of USA TODAY owner Gannett and New Media Investment Group approve merger, New Media and Gannett announce board of directors for combined company, Your California Privacy Rights/Privacy Policy. Now, let's look at the four biggest stock owners. New Media CEO Mike Reed, who will become CEO of the new Gannett, told investors on Oct. 31 that "we feel great about the synergies.". He has said he's confident of hitting the savings target. Follow USA TODAY reporter Nathan Bomey on Twitter @NathanBomey. It began late last week, when New Media Investment Group, the company that had bought The Review-Journal as part of a package of newspapers for $102 million this year, announced it had sold the . Since then, there have been reports of Adelson influencing coverage of himself at a newspaper that in the past was often critical of the billionaire. The Merger is anticipated to result in run-rate cost synergies across the combined company of $275 - $300 million annually, unlocking meaningful shareholder value. For news sites that are owned by investment firms with a majority stake, the CEO or director of the investment firm was listed as the highest-level owner. The actual results, liquidity and financial condition may differ from the anticipated results, liquidity and financial condition indicated in these forward-looking statements. Fortress owned 52% of GateHouse debt. In an interview with CNBC, Soon-Shiong described his investment as an opportunity to actually transform this newspaper world into this next generation. In 2014, Tribune Publishing Co. was spun out of Tribune Company, which changed its name to Tribune Media Co.Tribune Co. had previously been owned by billionaire real estate investor Sam Zell, who took control of Tribune Co. in 2007. In connection with the proposed transaction, New Media intends to file with the SEC a registration statement on Form S-4 (the Registration Statement), which will include a prospectus with respect to shares of its common stock to be issued in the proposed transaction and a joint proxy statement for New Medias stockholders and Gannetts stockholders (the Joint Proxy Statement), and each of New Media and Gannett will mail the Joint Proxy Statement to their respective stockholders and file other documents regarding the proposed acquisition with the SEC. We worked on News companies. Stacy Cunningham, Gannett Vice President, Financial Planning & Investor Relations Some billionaires, like Rupert Murdoch and Michael Bloombergare longtime media moguls who made their fortunes in the news business. These are the world's biggest investment firms, so Pepsico and Coca-Cola are not competitors, at all. Gannett is an innovative, digitally-focused media and marketing solutions company with well-known brands worldwide. Since beginning his run for president, Trump has accused Bezos of using the Post to get tax breaks for Amazon and sending reporters after Trump. The breadth and depth of each companys digital offerings will make the combined company a leading digital media player and a stronger partner for advertisers and SMBs. Please visit the Investor Relations section of either companys website (www.newmediainv.com or www.gannett.com). Less than a year later, the companywentbankrupt. Vice Media owes FTI Consulting nearly $1 million in fees, some dating back to 2019, a court filing alleges. Zuckerman serves as chairman and editor-in-chief of U.S. News & World Report, which he bought in1984. "They are of enough scale that they are doing a good amount of digital national business, and the GateHouse properties added in there gives them more scale.". The conference call may be accessed by dialing 1-855-319-1124 (from within the U.S.) or 1-703-563-6359 (from outside of the U.S.) 10 minutes prior to the scheduled start of the call; please reference access code 3747329. A simultaneous webcast of the conference call will be accessible to the public on a listen-only basis through each companys website. Billionaires own part or all of several of Americas influential national newspapers, including The Washington Post, The Wall Street Journal and theNew York Times, in addition to magazines, local papers and online publications. We then determined the parent companies behind each of these 50 outlets and identified all of the properties in their online media portfolios. Or two, for that matter.I bought them because Im passionate about their missions. [24] In June 2017, GateHouse announced it was purchasing Calkins Media Group's four six-day-a-week newspapers and Calkins Digital Group, a press facility and related websites and other digital operations. While its mail is delivered from the Pittsford, NY 14534 post office, GateHouse's headquarters lie about a third of a mile east of the eastern border of, Last edited on 23 February 2023, at 23:45, U.S. Bankruptcy Court in Wilmington, Delaware, List of newspapers owned by GateHouse Media, "Gannett, Now Largest U.S. New Media Investment Group, Inc. is a development stage company. 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