Mike Reed Sets Goals for New Gannett

New revenue source? IN THE USA TODAY - Gannett Co., Inc. Trademark Registration

 

Gannett is selling 20 papers in Iowa, Kansas, Missouri and Nebraska to something called CherryRoad Media.

Gannett to Sell 20 Papers to CherryRoad Media -- Update.

 

CherryRoad Technologies says it helps connect people and governments, whatever that means.

About CherryRoad Technologies - Reliable, IT industry veterans

Perhaps using the purchase to slip into new markets and get new customers?

 

I found that the most important part of that press release was not mentioned. The price. If a sale generates enough money to have a material impact on the operations of a public company it should be disclosed. And Gannett likes to trumpet other transaction that reduce debt but they have yet to post a press release on their website..

I am curious if these papers were basically given away because they no longer generate cash flow or they actually generate some cash. If it is the former I wonder how many other papers Gannett has in the same situation.

 

https://www.axios.com/gannett-unions-new-york-new-jersey-73431ec6-8115-4037-9491-b791522b1def.html

A question for those of you closer to the situation: Have you seen any improvement in your situation after unionizing? I’m getting the sense that neither side is actually negotiating anything — the companies take away benefits, saying the union has to negotiate for them, and the newsroom’s union people take to Twitter to wag fingers and say “shame, shame.” Is the union using any leverage? Does it have any leverage? Are the unions creating strike funds and preparing members for a work stoppage?

I’m very, very pro-union, but I’m concerned that the organizing efforts so format haven’t yet had much effect. But maybe things are going on behind the scenes that I don’t know.

 

CherryRoad Technologies? Reliable? Yeah, right. Michigan's largest county just terminated a contract with those f-ups. CherryRoad was supposed to implement a new system that covered ledger, payroll and procurement systems, but delivered nothing, yet will get nearly $10 million of taxpayer money for the so-called work it did. So, the system that was supposed to cost the county $31 million and already be operational likely will now cost about $57 million and be operational in late 2023. The current system is hanging on by a thread because it's so outdated.

 

As much as it'd be fun to rip CherryRoad, I'm finding from the other end that the reason these things often don't get off the ground because the place that signs the contract changes its mind 10 times about what it wants and is never happy with what the firm offers up.

 

In this case, it wasn't a matter of change orders. CherryRoad simply didn't deliver.

 

From a former colleague who works in NY: "The only thing the union has done is give Gannett an excuse to not give us raises."

 

From my own experience in a union shop owned by Gannett many, many years ago, that’s what I was afraid of.

 

What We Lost When Gannett Came to Town

 

Great piece. There are 29 places called Burlington in the U.S., and it probably could apply to all of them.