Mike Reed Sets Goals for New Gannett

Don’t know anything about that. Paxton already has a big footprint in North Carolina. It’s not surprising they would add to it. With that being said, Paxton is another awful chain. But aren’t they all?

 

I think geographical location is driving this rumored purchase. If the purchase goes through I am curious if Gannett releases the sale price. Paxson is a private company and does not need to disclose.

A public company is supposed to release financial information when it is "material?. However, material is a vague term. Gannett, given its large amount of debt, would be incentivized to disclose the amount. If Gannett does not disclose the amount it means Gannett basically gave away the papers because they had stopped generating very much if any cash.

 

It’s happening. Was told by a Gannett staffer. Sale officially takes place Dec.1. And, yes, those papers quit generating cash. Kind of hard to do that since Gannett stripped them to the bone.

 

I am sure you are right.

Gannett has not issued a press release even though the transfer will occur in seven working days. The haste to complete the transaction further confirms my belief that Gannett is absolute panic. The absence of a press release leads me to believe that Gannett essentially gave away the papers to avoid paying severance.

I also wonder which papers are are going to be closed or sold next.

 

Paxton has announced it. The six papers are Lexington, Asheboro, Burlington, Kinston, New Bern and Jacksonville. And, yeah, I’m sure you’re right about Gannett panicking.

Another thing is Paxton is essentially buying names. Kinston and Asheboro are practically ghost papers. There are some staffers in Burlington because Gannett used it as a regional hub controlling Lexington and Asheboro. Same with Jacksonville in relation to New Bern and Kinston.

As far as I know, only Jacksonville has a sports writer.

 

A family-owned media company, for about four generations. That would seem to be the ideal type of ownership, no? About Us

 

Some more details and color. https://www.newbernsj.com/story/new...n-journal-jacksonville-daily-new/69661758007/

 

This caught my eye the other day - the News Director (interim) in Sioux Falls sharing on Twitter a Gofundme to support journalists at the Argus-Leader through the furlough period. No idea if the organizer is an employee there.

I've been away from the Evil Empire for quite a few years, but I imagine the reception I'd have gotten if I shared something like that publicly would not have been a good one.

 

Believe not a word about Paxton.

Gannett is bad. Paxton might be worse.

Tread carefully. Journalism in Eastern North Carolina just took another blow, and as punch-drunk as it already is, I don't know how much more abuse the region can take.

 

Hell, "family owned" isn't necessarily any more functional than corporate. It just usually means different kinds of bullshit.

 

She looks like she might be 30. Remember when respected papers like Sioux Falls used to have veteran leadership? She might be the best interim news director in the world, but experience still means a lot.

 

Happy holidays! We'll give you a furlough...

Hopefully they stay true to their word of it being only 5 days, but I'd guess it's a trial run for Gannett to see how little they can get by with.

One FT sports guy between those two newsrooms is brutal. For those unfamiliar with S.D. geography, about 100 miles separates these two towns. They are the 3rd and 5th largest cities in the state.