With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. Christopher Ruddy became the CEO of the company and decided to take it in a new direction. The largest hosting company in Europe. Both companies announced layoffs in the past year, and this restructuring may help both companies win as they consolidate resources. Visualized: The Largest Trading Partners of the U.S. Visualizing 90 Years of Stock and Bond Portfolio Performance, Visualizing the Link Between Unemployment and Recessions, Timeline: The Shocking Collapse of Silicon Valley Bank, Decoding Googles AI Ambitions (and Anxiety), Ranked: Americas 20 Biggest Tech Layoffs Since 2020, Infographic: Generative AI Explained by AI, Ranked: The U.S. Banks With the Most Uninsured Deposits, De-Dollarization: Countries Seeking Alternatives to the U.S. Dollar. Gannett and New Media have each cut costs and made a series of acquisitions in recent years to bolster revenue and gain scale. The Company is one of the largest publishers of locally based print and online media in the United States as measured by number of daily publications. Gannett on Wednesdaynamed a mix of leaders from the old Gannett and its acquirer, New Media Investment Group, to lead the media company. [30], On April 10, 2018, GateHouse announced that it had agreed to acquire the Akron Beacon Journal of Akron, Ohio for $16 million from Black Press Group. This communication is neither an offer to sell, nor a solicitation of an offer to buy any securities, the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. Where are Clean Energy Technologies Manufactured? Adam Reinbach will serve as president and CEO of BridgeTower Media, which produces business, home furnishings,legislative and other digital and print publications and events. Except to the extent required by law, New Media and Gannett expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. Sam Levenson The buyer is New Media Investment Group, Inc., formerly Gatehouse Media, which is the largest newspaper publisher in the United States by number of titles. [23] In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. The Registration Statement, the Joint Proxy Statement and other relevant materials (when they become available) and any other documents filed or furnished by New Media or Gannett with the SEC may be obtained free of charge at the SECs web site, http://www.sec.gov. "We have been working hard on integration planning, and we are now even more confident in our ability to realize the high end of the range in savings and within the 18- to 24-month period we previously stated," he said. More than half of the overseas territories were in either the Pacific Ocean (21) or the Caribbean (18). In connection with the proposed transaction, New Media intends to file with the SEC a registration statement on Form S-4 (the Registration Statement), which will include a prospectus with respect to shares of its common stock to be issued in the proposed transaction and a joint proxy statement for New Medias stockholders and Gannetts stockholders (the Joint Proxy Statement), and each of New Media and Gannett will mail the Joint Proxy Statement to their respective stockholders and file other documents regarding the proposed acquisition with the SEC. Copyright 2023 InfluenceWatch. The planned bankruptcy centered on restructuring the Fortress News Corp deal. Sales, however, havent quite picked up as yet. The company has been in communication with the NYSE regarding its noncompliance with continued listing standards, but was unsuccessful in its efforts to avoid suspension and delisting. Who owns the news? The 25 CEOs that control the world - AddictiveTips More than 90,000 servers in operation. Bascobert said they sought to "create a careful balance between the two organizations" with a goal of ensuring people are on the same page culturally and strategically. As a result, we will accelerate the growth of the combined companys digital revenue through innovative customer experiences and new marketing solutions for businesses, while creating an expansive journalism network with the resources required to deliver unique and award-winning content. Jeff Gordon, a regional vice president for The NewsGuildwhose region represents journalists at four GateHouse newsrooms, expressed fears that the deal will lead to further distress for journalists who have already faced budget reductions. (212) 479-3160 6 7 Reed has faced criticisms in the past from the NewsGuild, an affiliate of the left-wing Communications Workers of America labor union, for purchasing newspapers, consolidating editorial practices, and reducing jobs to increase profits. We have created three indices (time-stamped May 11, 2021): US Mainstream Media Ownership (176 parent companies and standalone news outlets) Emerging Digital Nonprofits and Their Donors (231) Seven Big Owners of Daily Newspapers in America (own more than half of the major daily newspapers in the U.S. Index is organized by the state to highlight . With strategically-aligned leadership and significant scale of operations, the Merger will accelerate the combined companys digital transformation.
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