Gannett, Gatehouse talking merger

If a company is struggling now - it will only get worse when the recession starts in earnest. Seriously - this has been the most business-friendly Presidency since the Gilded Age and if you can't make a buck in it - you are terrible at what you do.

 

Gatehouse-owned Kirksville (Mo.) Daily Express went twice-a-week print about a month ago.

 

Kirk Davis announced his resignation yesterday, I'm sure he'll get a nice, fat check on his way out the door, but good riddance.

 

No doubt. He’ll get a soft landing via golden parachute that he doesn’t deserve.

 

No raises or bonuses for the newsroom but we did get postcards with inspirational sayings like "You Are Important" and "Keep Moving Forward"

 

Gatehouse will not have to wait for the next recession to struggle. As soon as the company has to make a payment on the 1.8 billion, 11% interest loan they took out to buy Gannett all hell will break lose. Especially when they miss their first revenue target.

 

Great post. The economy has been booming and newspapers keep doing poorly. But why is there going to be a recession for sure? Trump's economy ain't doing too badly.

 

Failing upwards!

 

Looks like they'll have to change the name.

May I suggest the Kirksville Kum & Go Express, in honor of northeast Missouri's best party store.

 

Not necessarily. It's been more than a year (two?) since the Neosho Daily News went to two days a week. The justification seems to be that since the website updates daily, it can still call itself "Daily News."

 

Gatehouse buys Gannett for $1.4 billion.

Which is worse? Gatehouse or Alden? Is that like asking whether you'd like to be hit by a train or 18-wheeler?

https://www.crainsdetroit.com/mergers-acquisitions/gatehouse-media-owner-new-media-buy-detroit-free-press-owner-gannett-14

 

Excerpted from the story link above:

The acquisition also sets the stage for further cutbacks in an industry already reeling from them. The companies said the deal will better allow them to provide marketing services to local businesses, deliver local journalism to communities and transition to a digital future. But they also said they anticipate about $300 million in cost savings each year from the transaction, which could lead to further cuts to news staffs. The combined company, which would operate under the Gannett brand name, said it would invest in its newsrooms and search for cost reductions "in a judicious manner."

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Do you really believe anything these companies have done will allow anyone with a clue to believe that they will invest in their newsrooms? And how can they make that statement when factoring the last phrase prior to the bolded sentence?

Further proof that these people really think we're all that ignorant.