Gannett, Gatehouse talking merger

Do they have anyone left? Why did they originally do an outside hire?

 

This is from the second quarter McClatchy earnings release.

"Pension Matters:

"McClatchy is requesting the waiver of the minimum required contributions under the pension plan for the Company's fiscal year 2020, which are estimated to be approximately $120 million, and would be paid in installments beginning in April 2020 with the bulk of those payments due September 15, 2020 or afterwards.

There can be no assurance that the IRS will grant the requested waivers, and the Company does not expect to provide periodic updates prior to a definitive ruling by the IRS, which is expected to take some time. If the waivers are not granted, it would have a material adverse effect on the Company's liquidity."

Also, digital advertising revenues declined 18.7%.

 

I just edited my post -- he would have been the second on the beat, joining Scott Wright.

It's the first step. From 2 OSU beat writers to one; then two Thunder writers to one, then the outdoors writer, then Berry Tramel gets a buyout, then the second OU beat writer.

 

I am actually surprised they still have two Thunder writers.

 

I was surprised to see that too. After OU, I figured it would be one per beat.

 

Shocked would be the word. For a company like GateHouse, how do they have more than one beat writer on any beat? Ideally, you’d have two, but this is GateHouse.

 

I think Columbus has 2 for the Blue Jackets and like a gazillion for the Buckeyes

 

Digital ad revenues DECLINED 20 percent? Please translate all this in human speak. Is McClatchy doing well or not? Should people there be worried of more layoffs or not?

 

Maybe he'll get the job after all if the deal doesn't go through. That's pretty rinky-dink of Gatehouse to do that to Ellis Williams, rescind the offer. That's about as rotten a story as I've ever heard. You know, if we're at the point people that accept job offers can be laid off before they even start on the job, that's bullcrap.
Think of this story. The CEOs of Gannett/Gatehouse have so much money they don't know what to do with it all. This 25 year old accepts a job, gets a place to live, is ready to start working and they rescind the offer? That's just the worst thing I've ever heard of. GateHouse should give the kid $10,000 for his trouble at least. I mean the kid had a job and this happens. Something has to be done to take care of this reporter who got screwed big-time by a huge newspaper chain in which the CEO is making gazillions of dollars. This kid was probably going to make 70,000 or so. Ridiculous. Give him a year's salary, Gatehouse. You had a verbal agreement with the kid. Maybe he can sue.

 

Sounds like chapter and verse from the Mary Junck School of Cooking Books.

 

McClatchy? Doing well? Not since before the Recession.

Yes. It's McClatchy. The CEO is greedy brainlet.

 

Not saying McClatchy wouldn’t have collapsed otherwise, but the Knight-Ridder deal killed it.