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Gatehouse to Buy Boston Herald

Discussion in 'Journalism topics only' started by Michael_ Gee, Dec 8, 2017.

  1. Michael_ Gee

    Michael_ Gee Well-Known Member

    Publisher Pat Purcell, who bought it from Murdoch in 1992, announced sale at staff meeting today. Five million cash. This bodes ill for my old friends there, but Purcell, with whom I had my differences, owned that paper a lot longer than I ever would have.
     
  2. JimmyHoward33

    JimmyHoward33 Well-Known Member

    Reading they're sold to Gatehouse but also filing chapter 11.....whats the benefit there, lower price and screwing the pension folks?
     
  3. wicked

    wicked Well-Known Member

    I read that the bankruptcy was mostly about the pensions.

    This saddens me. I worked there -- two different times -- and still know people in the newsroom, people who were very good to me. They deserve better. Boston is poorer for this.
     
  4. LanceyHoward

    LanceyHoward Well-Known Member

    I read the article below that said the bankruptcy court will require and an auction. I thought this was legally required as a check a against a sweetheart deal that screws the creditors. So I don't understand how the deal can be described as final.

    Boston Herald publisher announces sale of newspaper company

    I am also surpried that the Boston Globe was not bidding. I would think that the benefits they would accrue from using the Herald out of business would be greater than five million dollars.

    Also, who owns the space where the Herald publishes? Is it leased or does Gatehouse get that also?
     
    Last edited: Dec 9, 2017
  5. LanceyHoward

    LanceyHoward Well-Known Member

    Digital First has been selling their New England properties. They just sold their Connecticut properties and only have Fitchburg and Lowell left. I would think that if Gatehouse is buying the Herald they would be interested in buying the Digital First papers to consolidate into their Massachusetts cluster.
     
  6. wicked

    wicked Well-Known Member

    The Globe prints the Herald, so it'd like to see the paper stay alive (as long as someone else owns it).
     
  7. Twirling Time

    Twirling Time Well-Known Member

    GateHouse just declared war on Gannett. It's on like Donkey Kong.
     
  8. LanceyHoward

    LanceyHoward Well-Known Member

    Where
    As long as the someone is not Gatehouse. Gatehouse already owns nine dailies in eastern and central Massachusetts. I don't know where those papers print but I bet the Herald will soon print there.

    I think that is a big reason Gatehouse bought the Herald. Five million is not much money and they can manage the Massachusetts properties with zones and have a combined editorial staff.
     
  9. wicked

    wicked Well-Known Member

    The Globe prints the Herald and a couple GateHouse dailies at their new plant (a plant that's been riddled with problems, but that's another topic) south of the city. It's conceivable the Herald could still be printed there.

    I do admire what Purcell pulled off. He owned the paper for 23 years, and probably was on the ropes for most of them. Yet he hung in there. I know selling was a last resort.
     
  10. Michael_ Gee

    Michael_ Gee Well-Known Member

    Herald offices are leased. The building where I worked is now a condo-commercial building. There's a Whole Foods on the ground floor.
     
  11. justgladtobehere

    justgladtobehere Well-Known Member

  12. Slacker

    Slacker Well-Known Member

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