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Mike Reed Sets Goals for New Gannett

Discussion in 'Journalism topics only' started by Readallover, Jan 19, 2021.

  1. wicked

    wicked Well-Known Member

    I would not want to take a 10 percent salary cut, especially if I were living on poverty level wages, but that sounds relatively tame compared to the predicted armadeggon.
     
  2. Jake from State Farm

    Jake from State Farm Well-Known Member

  3. Tarheel316

    Tarheel316 Well-Known Member

  4. DanOregon

    DanOregon Well-Known Member

    Though I doubt those stock options are much of a "gift" - honestly if you are a CEO and your stock tanks, do you get to write it off? The real thief was Dubow.

    Dubow's annual compensation at Gannett was approximately $4.5 million.[4] He retired on October 6, 2011, for health reasons.[5] He left with a golden parachute and could receive retirement and disability benefits valued at $37 million.[6] The amount of his retirement and disability payout has been criticized as excessive in light of the facts that under Debow's five-year tenure as CEO, Gannett's share price fell to $10 per share from over $70, and the number of employees was reduced from 52,000 to 32,000.[7]

    Hard to believe one person could oversee that much damage in just five years.
     
  5. rtse11

    rtse11 Well-Known Member

    Not if you believe that person doesn't give a shit about the product, only that he gets his before he gets out
     
    Baron Scicluna and BurnsWhenIPee like this.
  6. ChadFelter

    ChadFelter Active Member

    Readallover likes this.
  7. wicked

    wicked Well-Known Member

    Gannett is a make-the-nut business. It could be print, digital, selling weed — anything to make it appear things are trending in the correct direction so they can get more money from the bank.
     
  8. LanceyHoward

    LanceyHoward Well-Known Member

    When you look at chains like Gannett you see papers that are geographically isolated from other newspapers in the chain. For example, Gannett owns Fort Collins and Pueblo while Alden owns basically everything else in Colorado (except Colorado Springs which is owned by a billionaire as a vanity project). In Montana Gannett owns Great Falls when Lee basically owns the rest of the state.

    I would think papers like Fort Collins and Great Falls would be worth more to a publisher as part of a regional cluster than a stand alone. Using that logic I would expect Gannett to concentrate there resources on their regional clusters in locations like Tennessee and several Midwestern states and sell off their orphans.
     
  9. Readallover

    Readallover Active Member

  10. Woody Long

    Woody Long Well-Known Member

    wicked and Fdufta like this.
  11. Fdufta

    Fdufta Member

    Truer words have never been spoken.
     
    maumann and Woody Long like this.
  12. Tarheel316

    Tarheel316 Well-Known Member

    Woody Long likes this.
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