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Gannett, Gatehouse talking merger

Discussion in 'Journalism topics only' started by SoloFlyer, May 30, 2019.

  1. Liut

    Liut Well-Known Member

    As a sidebar, just read about an hour ago that some hedge fund is buying Barnes & Noble. (Sigh).
     
  2. LanceyHoward

    LanceyHoward Well-Known Member

    I just read the New York Times article. This may be a good thing. the hedge fund turned around another book store chain by moving to a decentralized merchandising model where the stores tried to carer their selection to the local markets. That would be cool if they do the same thong to Barnes and Noble.

    I can see how it would work. I am from Colorado. Look at the opportunities that exist to hit a niche such as how to grow marijuana at home.
     
    Liut likes this.
  3. Liut

    Liut Well-Known Member

    Hope you're right, Lancey. Maybe I overreacted. Barnes & Noble has generally been helpful to me with a book I've got out. The monopoly in Canada? Whole different story, got my own personal trade war going on.
     
  4. jlee

    jlee Well-Known Member

    A hedge fund buying a newspaper to squeeze all the profit it can while steering it toward an inevitable death? Yeah, that sucks.

    The same thing for a box store that undercut smaller booksellers? I feel for the employees, but otherwise meh, it’s businesses.
     
  5. Twirling Time

    Twirling Time Well-Known Member

    That applies to all 50 states truthfully ....
     
  6. cubman

    cubman Member

    Take this for what it's worth, but one online news source in Zanesville, Ohio is reporting that Gatehouse is closing in on a deal to buy at least the Zanesville Times Recorder. A longtime friend and former co-worker in that same chain of Ohio newspapers operated by Gannett sent the post my way this afternoon. I take this with a grain of salt until I hear something from other sources, but if Zanesville is going to Gatehouse, it would seem to follow that the other central/southeast Ohio papers Gannett operates would as well.

    ZanesViral Media
     
  7. Twirling Time

    Twirling Time Well-Known Member

    Gannett has sold to GateHouse before (Rockford), but that was when GateHouse was much smaller and not going after metros.
     
  8. LanceyHoward

    LanceyHoward Well-Known Member

    I am surprised Gannett would sell when they don't have a permanent CEO.

    The fact that Dickey announced he was leaving in December and Gannett has not been able to find a new CEO in seven months is an embarrassment. I would also be surprised that Gatehouse would want to buy Zanesville given that they are conspicuously passing on Youngstown, though the lack of buyers for Youngstown may be related to a pension liability.
     
  9. rtse11

    rtse11 Active Member

    And the Guild's presence ...
     
  10. wicked

    wicked Well-Known Member

    Maybe Gannett doesn’t want to hire a CEO ...
     
  11. Raven

    Raven Active Member

    Who wouldn't want to profit off closing low-performing papers?
     
  12. wicked

    wicked Well-Known Member

    If you’re the board, what’s the point of hiring a CEO if the company is going to merge with/be consumed by another publisher in six months?
     
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