Gannett, Gatehouse talking merger

Since this is your world, Lancey... are there ever any sanctions for execs who offer incorrect or misleading financial statements?

 

It's all about the bottom line for executives and shareholders.

 

Not really the shareholders. The merger allows the company that holds the management contract, Fortress, to pull tens of millions of dollars out. The shareholders will get hosed also. The stock has already gone from 10 to 6.

 

That translates to about 20,000 job cuts in that time.

Pack your parachutes.

 

Paul Bascobert just mentioned this guy's framed picture in today's Town Hall. Welcome Paul.

 

I didn’t tune in. What else happened?

 

A lot of talk about integration of benefits, networks, systems, presses and staff. Some digital marketing talk, a review of stories done, a Q4-Q1 video coming out soon highlighting the last few months.

 

Thanks Bumpy. And now we have to learn yet another new content management system. Fun.

 

The video will show hundreds of employees walking out of the newsrooms/sales offices with their stuff in a cardboard box. Perhaps they’ll get an escort. Riveting!

 

What are the names of the current systems? Last time I was a Gannetter, it was CCI.

 

My shop is using Naviga now. We just switched to it over the last few months. Now we’re going to have to switch to something called Presto.

 

We are using SaxoTech, which has made strides in recent years, but year, it's still SuxoTech