Mike Reed Sets Goals for New Gannett

Gannett has been the Titanic for years now. They tell the third-class passengers (employees) that they will be saved soon, while letting the first-class passengers and crew take all the lifeboats and lifejackets.

Gannett's sole goal is sucking up as much money as they can for their executives and shareholders for as long as they can before they declare bankruptcy and leave the creditors holding the bag. That's it. Anything else is emotional lip service designed to keep employees from rocking the ship too much or to prevent shareholders from asking themselves why the hell are they investing in this company.

Unless you're either a young kid out of college looking for some professional experience, an oldster trying to hang on a couple more years until retirement, or someone looking at it as nothing more than a temporary job to pay the bills until something better comes along, the best advice for employees was to get out of Dodge yesterday.

 

An ambitious push for 10 million digital subscribers is at least a better business strategy than pouring more costs into Sunday print. What's the long-term benefit of convincing your elderly print readers that they're getting more bang for their buck? They'll be dead soon anyway.

 

They know they aren't getting the young readers and have decimated/gutted news staffs so they don't have much local news....the only hope is to convince older folks not to cancel. Gannett is so inept they have the opportunity to really have great investigative pieces to constantly be breaking news, instead they cheaped out. Too focused on the bottom line. Think about that, they are worried about the now and still losing at 20 percent revenue every year. They aren't even making a blip because there is no one to write local news. Like I said they have a chance to really have a wide-ranging teams creating statewide news and having an Athletic type staff. But nope. 3 person newsrooms. Used to be in Wausau WI and now that paper, 3/4 of the stories on the cover aren't even on local news but a store opening in Appleton lol. Wgaf.

 

I’m trying to hang on for a couple of more years until retirement.

 

Gannett is trying to sell the idea they will get 10 million subscribers in five years. And bragging abut achieving 300 million dollars of synergies. I can't get the link to work but if you go to the Gannett investor relations website, then hit the Investor Toolkit tab and then page through the Latest Earnings Supplemental tab it is there.

I personally agree with you that both of the aforementioned statements are absurd. In fat, if you read the materials that Gannett presents to investors much of it is absurd. As previously stated I think Gannett is well on it's way to Chapter 11.

 

Keep older readers subscribing? Just add more crossword puzzles, large print tv schedule grid, and lots of syndicated columns on gardening, hobbies and travel. No need for local news coverage as these folks have no interest in that.

 

And PBA results

 

The only news article they care about is the annual cost of living adjustment to Social Security. Crosswords and syndicated features, the inexpensive way to retain elderly subscribers.

 

And guest columns about how liberals are a major threat to their way of life.

 

The NYT currently is offering $1/week digital subscriptions for a full year. So I shouldn't be so harsh on the discounts New Gannett offers. The New York Times: Digital and Home Delivery Subscriptions