Gannett

POYNTER

How USA Today Network plans to double down on video

DENVER — Don't expect the country's biggest newspaper publisher to ignore the tectonic shift toward video. The USA Today Network (neé Gannett) has made moves in recent months to turn its sprawling empire of more than 100 local media organizations into a single, cohesive whole — and video is a central part of that strategy. Late last year, it hired … Read More
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Mass layoffs will hit New Jersey papers after Gannett purchase

Less than three months after acquiring The Bergen Record, the (Passaic County) Herald News and other assets of North Jersey Media Group, Gannett is trimming the newspapers' headcount dramatically. In an unbylined story that was skewered on Twitter for trying to put a positive spin on the news, North Jersey Media Group announced that more than 200 employees … Read More
POYNTER

High drama at Tronc takes an intermission

Still fending off an ongoing takeover bid by Gannett and developing a futuristic video news product, Tronc Inc. today released a largely uneventful second-quarter financial report. The headline on the company's press release said that it anticipates bringing in more revenue and posting higher profits than it had previously stated. The increases were tiny, though. For instance, Tronc … Read More
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Gannett's expansion strategy runs into bad news on the advertising front

Gannett today reported $21.7 million in second-quarter revenue growth driven by the addition of the 15 papers acquired when it bought Journal Media Group. Its earnings release alluded to continued weak advertising but provided no numbers. Questions from analysts in a subsequent conference call drew out these particulars from Chairman and CEO Bob Dickey: Advertising revenue was down roughly … Read More
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Gannett boosts its digital marketing reach with $156 million acquisition

In reporting disappointing financial results in February, Gannett CEO Bob Dickey told analysts, "I would be disappointed if there is not another acquisition to announce in the first half of the year." Gannett and Dickey delivered on the promise just under the wire late Monday by announcing the purchase of ReachLocal, a California-based digital marketing services and solutions … Read More
POYNTER

The case for optimism at Tronc

Editor's note: Anne Vasquez is the chief digital officer of Tronc and a previous contributor to Poynter. “The only way to achieve the impossible is to believe it’s possible.” – "Alice in Wonderland" The news industry could use some inspiration from Disney. Our industry is scared. We're scared we won’t survive. We're scared our sacred mission to … Read More
POYNTER

The Newspaper Association of America is shutting down its national ad sales affiliate

The Newspaper Association of America is closing its national ad sales firm — Newspaper National Network — at the end of the month. According to an email memo Monday from chief financial officer Robert Walden to participating newspaper groups, NNN is on course to lose more than $1 million in the first half of 2016. It will yield to Nucleus … Read More
POYNTER

This week in Tronc: Waiting for Gannett’s next move

It’s another week, another chapter in the Gannett-Tribune Publishing (Tronc) takeover battle. At the end of last week, Tribune Publishing held its annual meeting, elected a slate of directors friendly to Chairman Michael Ferro and announced its impending corporate name change to Tronc, putting the ball back in Gannett’s court. It could respond by dropping its 100 … Read More
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Shareholder sues Tribune Publishing for breach of fiduciary duty

A weeks-long dispute between Gannett and Tribune Publishing for control of the company has landed in court. Last night, Tribune Publishing shareholder Capital Structures Realty filed a complaint in a Delaware court accusing company executives, including Chairman Michael Ferro, of neglecting their fiduciary duties in the wake of a takeover bid launched by Gannett. The lawsuit is the latest salvo … Read More
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Tribune Publishing closes shareholder meeting to the press

The press will be barred from a much-anticipated Tribune Publishing shareholder meeting being held in Los Angeles later today. At the meeting, shareholders will either vote for or withhold votes from Tribune Publishing's board of directors slate in a symbolic test of confidence in the company's leadership. A Tribune Publishing spokesperson told Poynter that public companies commonly limit attendance … Read More
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The stage is set for a showdown between Gannett and Tribune Publishing — here's what could happen

Faithful followers of Gannett’s operatic takeover fight to acquire Tribune Publishing will know that this is a decision day — Tribune's annual meeting will determine whether Gannett got any traction in urging a no-confidence vote in the company's management. Gannett has been encouraging shareholders to withhold approval of Chairman Michael Ferro’s slate of directors. The outcome of the … Read More
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Another major shareholder urges Tribune to strike a deal with Gannett

A second big-dollar investor in Tribune Publishing is calling on the newspaper company to cut a deal with Gannett, just two days after it rebuffed Gannett's $864 million offer to buy the company. In the letter sent to Tribune's board Tuesday, Towle & Co, a St. Louis-based investment firm, said the owner of the Los Angeles Times, the Chicago Tribune … Read More
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Heavy-hitter investors plan a for-profit digital launch next month in Denver

The growing wave of local digital news startups is about to get a new player. The investors behind Business Insider will launch Denverite in June. Like Jim Brady's Billy Penn in Philadelphia or Ted Williams' Charlotte Agenda, this is a for-profit venture, and, if successful, may be replicated in other cities. Gordon Crovitz, a former Wall Street Journal … Read More
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Tribune Publishing's $70 million gambit: Escalation or prelude to a deal?

So Tribune Publishing Chairman Michael Ferro has brought on board a fellow biotech billionaire, selling Nant Capital about 13 percent of the company for $71 million in newly issued shares. The investor behind Nant, Patrick Soon-Shiong, is Los Angeles-based and already owns a stake in the Lakers. So it makes sense that he could be buying into Ferro's vision of building … Read More
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Tribune Publishing rejects Gannett's offer, announces $70 million investment

Tribune Publishing turned down a $864 million offer from Gannett to buy the company on Monday as it announced a $70 million investment from a new shareholder. The pair of developments is the latest in a weeks-long battle between Tribune Publishing and Gannett for control of the company and 11 of America's most storied daily newspapers, including the Los … Read More