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Cox selling Palm Beach Post, Austin American-Statesman

Discussion in 'Journalism topics only' started by BTExpress, Oct 31, 2017.

  1. Fran Curci

    Fran Curci Well-Known Member

    Lancey, that has also been my belief. But have they left some of the Florida properties somewhat intact, given the state of the business? I have heard that Sarasota, Gainesville, Jax, et al are not in horrible shape as far as personnel.
  2. LanceyHoward

    LanceyHoward Well-Known Member

    But the financials tell the story.

    In the second quarter Gatehouse had revenues of 388.8 million. They were down 4.9% on a same store basis. The company said EBITDA was 49 million. They had interest expense of interest of nine million dollars and paid 22 million dollars in dividends. So that left 17 million. They had capital expenses of three million dollars which is not much for a company that size. That leaves about 15 million dollars that management left in the country. But revenues decline every year. So what happens next year? The company will have to cut some more because they have to pay the debt and they do not want to cut the dividend.

    If management was interested in building up the newspaper business they would be investing more in the company and not pulling as much cash out.
  3. LanceyHoward

    LanceyHoward Well-Known Member

    According to this news reports JAX was down to 35-40 editorial staffers. I am not sure if the number reflects the June round of layoffs or not.

    Florida Times-Union newsroom staff takes steps to form union | Jax Daily Record | Financial News & Daily Record - Jacksonville, Florida
  4. Fran Curci

    Fran Curci Well-Known Member

  5. Fredrick

    Fredrick Well-Known Member

    Forgive Fredrick for being very dumb. How does Gatehouse have revenues of almost $400 million? Are newspapers actually doing well? That's a lot of money.
  6. FileNotFound

    FileNotFound Well-Known Member

    Revenue isn’t the number that matters. EBITDA is the number that matters. GateHouse owns 145 daily newspapers. The math suggests that not “a lot of money” at all.
    Last edited: Aug 23, 2018
  7. MeanGreenATO

    MeanGreenATO Active Member

  8. Slacker

    Slacker Well-Known Member

    Great paper, great people to work with.
    What a shame to see Austin go under, too.
  9. Raven

    Raven Active Member

    At least there's the Texas Tribune, also based in Austin, which, I hear, is thriving, especially with their coverage on the border crisis.
  10. SFIND

    SFIND Well-Known Member

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