Morris sells papers to GateHouse

http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003662037

Hmm. Good or bad news for some of these papers?

 

"This is an excellent acquisition opportunity for GateHouse," GateHouse CEO Mike Reed said in a statement. "These are strong local media franchises in small markets, many of which are near existing GateHouse properties and offer compelling synergy opportunities."

Baaaaaaaaaaaaaaaaaaaaaaaad.

 

Let me get this straight. The company is hemorraging money because it so badly overspent its revenue is buying all these papers in Ohio and the like back in spring, so much so that it forced a company-wide freeze this fall on just about any spending and forced papers to slash all sorts of other spending. Now, it's buying more papers. These people don't have a clue, do they?

 

I can't imagine there are very many scenarios in which being sold by Morris would be bad news for a paper. Apparently, this is one of the few.

 

Expect The Log Cabin Democrat in Conway to be sold to Stephens Media soon if the CEO is saying the company wants to focus on the larger markets.