Gatehouse offering buyouts

Gatehouse absolutely offers buyouts.

GateHouse Media offering buyouts in New England

https://www.bizjournals.com/austin/...offers-buyouts-to-all-200-plus-employees.html

Buyouts Hit GateHouse Newspapers Across the United States – Editor & Publisher

 

This is the second buyout offer I've received since working at GateHouse that I recall. I can not remember the specifics of the previous one as far as financials but I believe there was a temporary noncompete included the first time but that was not in this one.

 

And some folks aren't even getting buyout offers.

https://www.arkansasbusiness.com/article/123369/gatehouse-shutting-down-pulaski-lonoke-county-papers

 

And more …

UPDATE: Carthage Press to close after 134 years of operation

 

“Since we took the company public on Valentine’s Day in 2014, we’ve done just under $1 billion in acquisitions,” Reed said. “So we’re averaging about $300 million a year in acquisitions. I would suspect a similar number for the next year.”

Suspect is a very good word for that company.

 

Yep. Buy them up, suck out all the profits that they can get, collect a bunch of bonuses, then file for bankruptcy (again) and leave the creditors holding the bag.

 

Didn't they make a movie in the '80s about this practice? I think it as called Wall Street.

 

Friend of mine took a buyout in Newport, R.I. earlier this month. Not sure about my former shop, Norwich.

 

There is no mention of this decision on its own web site. The letter in today's edition says that the Neosho (Mo.) paper will cover "important Carthage news" but why would anyone in Carthage want the Neosho paper. That's like if a newspaper in Dallas decided to start covering San Antonio but not Waco or Austin.

There were also things about "digital offerings," which I'm guessing means that the Carthage Press identity will be retained for a web site.

A TV report also said that Neosho was going to move its publishing to Columbia, so I assume that also means the Pittsburg and Columbus, Kansas, and Miami and Grove, Oklahoma, papers will be moving there, too. I think Pittsburg still has a press but I don't see why that would keep going because the Neosho paper could have been published there if it was.

There's a weekly in Galena, Kansas, which has to decide where it's publishing now. I think the Globe and the Parsons Sun are the closest papers still operating a press. The Independence Daily Reporter is probably the only other paper in southeast Kansas with its own press (but I wouldn't be surprised if they eventually outsource, too).

 

Greed is good!

 

GateHouse has all these high-minded "initiatives" to supposedly better its journalism. In reality they're thinly-veiled busywork to encourage its workers to get the hell out.

Easy to tell when labor is considered a liability instead of a asset. See it at my work station every week.

 

Gatehouse seems to be "quietly" performing its most aggressive staff reduction yet. Rumors of buyouts being offered at a ton of their newspapers. Very surprised they are going that route rather than just hacking staff more. Buyouts prevent the head honchos from buying the nicest boats, snowmobiles and vacation homes.