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Gannett, Gatehouse talking merger

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

  1. sgreenwell

    sgreenwell Well-Known Member

    More the latter than the former - I did my internship at the same shop in 2005ish, and even then, the building was a lot more vibrant. They employed three full-time news reporters at the time of my layoff, plus a part-time correspondent (did 2 to 4 stories a week on one town) and a part-time sports reporter. We did have a digital team - From 9 a.m. through midnight, at least one person was always on, with two people on from noon / 1 p.m. to 7 or 8 p.m. They hadn't downsized the building yet though, so there were desks for 12 reporters.
     
    Last edited: Jul 13, 2020
  2. LanceyHoward

    LanceyHoward Well-Known Member

  3. The Big Ragu

    The Big Ragu Moderator Staff Member

    Given the senior debt that Chatham owned, in a straightforward bankruptcy. ... that equity for debt swap they wanted to do was the right outcome.

    What Chatham wants to do now certainly is the question. But that was the question months ago when it should have been assumed that Chatham would take ownership (they had already accumulated so much equity already to go with the debt, it was clear they were in for some reason). If they want to be in the newspaper business, there is no way they can attempt this without serious cuts. Relieving the company's debt burden in bankruptcy gives them a fighting chance to get it lean enough where it can be profitable -- at least for a while.

    The flip side is that maybe they never actually wanted to be in the newspaper business, in which case they see what they have as an asset that they think they can sell for chunk more than the $300 million. Which is why it wouldn't be a huge shocker if they actually turn around at some point and sell to Alden anyhow, which would love to scale up their newspaper business.
     
  4. Tarheel316

    Tarheel316 Well-Known Member

    Agree with this completely. I’ve been working at home for five years now. I see no need to be in an office.
     
  5. bumpy mcgee

    bumpy mcgee Well-Known Member

    I've been working from home the last four months and taking care of the kids while my wife is back in her office.
    Other than swinging by the office late at night to grab boxscores from the few fax machine holdouts for roundups when hs sports resume, I can't think of why I'll go back in when it reopens.
     
  6. GAWalker

    GAWalker New Member

    Seeing news about Gannett freezing salaries and cutting 401k contributions. It's funny because they've already beaten any expectation of a raise out of me.
     
  7. rtse11

    rtse11 Active Member

    I didn't watch the town hall. But, yeah, like we were ever gonna get a bump ... Bascobart's golden parachute ate up that fund weeks ago.
     
  8. Tarheel316

    Tarheel316 Well-Known Member

    Yep. And that beyond sucks.
     
  9. bumpy mcgee

    bumpy mcgee Well-Known Member

    Whenever you have the chance to pay 4.5 million in salary and bonuses plus 7.5 million just to go away for 10 months of Paul Bascobert, you gotta do it.
     
  10. hondo

    hondo Well-Known Member

    I haven't watched a single one of those shitshow town halls. Maybe if they make it mandatory and keep some kind of attendance, like the bullshit ethics classes we have to take online -- as if Gannett/GateHouse has any moral standing to ever lecture anyone on ethics.
     
    Tarheel316 likes this.
  11. rtse11

    rtse11 Active Member

    I tried, once. But when the first comment was "we salute your dedication to local journalism" and we had just laid off 4 people in the newsroom I found something better to do.
     
    2muchcoffeeman likes this.
  12. Tarheel316

    Tarheel316 Well-Known Member

    We were forced to watch the very first one when they announced the merger. I felt sorry for those poor USA Today staffers who had to stand the entire time while two multi-millionaires sat in comfortable chairs yukking it up.
     
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