Gannett, Gatehouse talking merger

[Liut]

Criminal. Hedge funds are the scorn of the Earth.

As a sidebar, just read about an hour ago that some hedge fund is buying Barnes & Noble. (Sigh).

 

[LanceyHoward]

As a sidebar, just read about an hour ago that some hedge fund is buying Barnes & Noble. (Sigh).

I just read the New York Times article. This may be a good thing. the hedge fund turned around another book store chain by moving to a decentralized merchandising model where the stores tried to carer their selection to the local markets. That would be cool if they do the same thong to Barnes and Noble.

I can see how it would work. I am from Colorado. Look at the opportunities that exist to hit a niche such as how to grow marijuana at home.

 

[Liut]

I just read the New York Times article. This may be a good thing. the hedge fund turned around another book store chain by moving to a decentralized merchandising model where the stores tried to carer their selection to the local markets. That would be cool if they do the same thong to Barnes and Noble.

I can see how it would work. I am from Colorado. Look at the opportunities that exist to hit a niche such as how to grow marijuana at home.

Hope you're right, Lancey. Maybe I overreacted. Barnes & Noble has generally been helpful to me with a book I've got out. The monopoly in Canada? Whole different story, got my own personal trade war going on.

 

[jlee]

A hedge fund buying a newspaper to squeeze all the profit it can while steering it toward an inevitable death? Yeah, that sucks.

The same thing for a box store that undercut smaller booksellers? I feel for the employees, but otherwise meh, it's businesses.

 

[Twirling Time]

I just read the New York Times article. This may be a good thing. the hedge fund turned around another book store chain by moving to a decentralized merchandising model where the stores tried to carer their selection to the local markets. That would be cool if they do the same thong to Barnes and Noble.

I can see how it would work. I am from Colorado. Look at the opportunities that exist to hit a niche such as how to grow marijuana at home.

That applies to all 50 states truthfully ....

 

[cubman]

Take this for what it's worth, but one online news source in Zanesville, Ohio is reporting that Gatehouse is closing in on a deal to buy at least the Zanesville Times Recorder. A longtime friend and former co-worker in that same chain of Ohio newspapers operated by Gannett sent the post my way this afternoon. I take this with a grain of salt until I hear something from other sources, but if Zanesville is going to Gatehouse, it would seem to follow that the other central/southeast Ohio papers Gannett operates would as well.

ZanesViral Media

 

[Twirling Time]

Gannett has sold to GateHouse before (Rockford), but that was when GateHouse was much smaller and not going after metros.

 

[LanceyHoward]

Take this for what it's worth, but one online news source in Zanesville, Ohio is reporting that Gatehouse is closing in on a deal to buy at least the Zanesville Times Recorder. A longtime friend and former co-worker in that same chain of Ohio newspapers operated by Gannett sent the post my way this afternoon. I take this with a grain of salt until I hear something from other sources, but if Zanesville is going to Gatehouse, it would seem to follow that the other central/southeast Ohio papers Gannett operates would as well.

ZanesViral Media

I am surprised Gannett would sell when they don't have a permanent CEO.

The fact that Dickey announced he was leaving in December and Gannett has not been able to find a new CEO in seven months is an embarrassment. I would also be surprised that Gatehouse would want to buy Zanesville given that they are conspicuously passing on Youngstown, though the lack of buyers for Youngstown may be related to a pension liability.

 

[rtse11]

I am surprised Gannett would sell when they don't have a permanent CEO.

The fact that Dickey announced he was leaving in December and Gannett has not been able to find a new CEO in seven months is an embarrassment. I would also be surprised that Gatehouse would want to buy Zanesville given that they are conspicuously passing on Youngstown, though the lack of buyers for Youngstown may be related to a pension liability.

And the Guild's presence ...

 

[wicked]

Maybe Gannett doesn't want to hire a CEO ...

 

[Severian]

Maybe Gannett doesn't want to hire a CEO ...

Who wouldn't want to profit off closing low-performing papers?

 

[wicked]

If you're the board, what's the point of hiring a CEO if the company is going to merge with/be consumed by another publisher in six months?