[5] Headquartered in Downers Grove, Illinois, Liberty then expanded the network increasing the total newspapers to 330 by 2000. Investors may obtain additional information regarding the interest of such participants by reading the Registration Statement and the Joint Proxy Statement (once available). Michael Bloomberg, the richest billionaire in the media business, returned to his eponymous media company in September 2014, eight monthsafter stepping down as mayor of New York City. Barbey took the company, which was then known as Vanity Fair Silk Mills, public in 1951 and the family still owns nearly 20% of the company. [24] In June 2017, GateHouse announced it was purchasing Calkins Media Group's four six-day-a-week newspapers and Calkins Digital Group, a press facility and related websites and other digital operations. Copies will also be available at no charge in the Investor Relations sections of New Medias website, www.newmediainv.com and Gannetts website, www.gannett.com. Others, like Amazon founder Jeff Bezos, bought publications as. Click here to explore who owns the news in the UK. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. New Media Investment Group, Inc. is a development stage company. Adam Reinbach will serve as president and CEO of BridgeTower Media, which produces business, home furnishings,legislative and other digital and print publications and events. Fox News is owned by the Fox Corporation, which is owned in part by the Murdoch Family (39% share). They are BlackRock, Vanguard and State Street. We then isolated the 20 companies with the most visited sites in each geography, as well as other newsworthy media companies, and identified all of the properties in their online media portfolios, as well as the name of their highest-level owners, using financial filings, corporate press announcements, and other public sources. David S. Cohen was officially sworn-in on January 20, 2021. Key executives, who will report to Bascobert, include: In addition, Henry Faure Walker will serve as CEO of Newsquest Media Group, a publishing arm in the United Kingdom. [20] In February 2015, GateHouse purchased Stephens Media, which published newspapers mainly in Arkansas and Nevada, for $102.8 million. 19 September, 2019. In March a jury awarded Hogan $140 million in damages. (Photo by Alex Wong/Getty Images), I wasnt looking to buy a magazine. The terms involved the cancellation of shares of Gatehouse, but those owners receiving warrants to buy shares in New Media Investment Group Inc.[11][12], Subsequently, Gatehouse Media acquired several newspaper groups between 2014 and 2017, including Halifax,[13] Stephens Media,[14] Calkins Media and Morris Publications. Since beginning his run for president, Trump has accused Bezos of using the Post to get tax breaks for Amazon and sending reporters after Trump. In August 2019, it was announced that New Media Investment Group had reached an agreement to merge Gannett into GateHouse Media. Powell: USdebt is 'on unsustainable path', Store releases ad with $129 Apple Watch, TV deals, In the third quarter, Gannett's digital subscriptions rose 27% to 607,000, Your California Privacy Rights/Privacy Policy. At the same time, Gordon said he has confidence in Reed's leadership of the new company. Please visit www.newmediainv.com and www.gannett.com. Bloombergcofounded his financial data company in 1981 withCharles Zegar andThomas Secunda, both of whom are now billionaires as well thanks to their minority equity stakes in Bloomberg LP. Other top CEOs of new Gannett:'Pivot' needed for digital transformation as merger is completed, Deal approved: Shareholders of USA TODAY owner Gannett and New Media Investment Group approve merger, New board: New Media and Gannett announce board of directors for combined company. New Media, operating as Gatehouse Media, has also expanded its investigative reporting team. New Media and Gannett believe that a digital transformation of the newspaper industry is vital to the preservation of journalism, and the Merger will accelerate the combined companys digital transformation. The Term Loan, which will be used to retire existing financial debt obligations of both companies and to fund the cash component of merger consideration, will be a five-year senior secured term loan facility in an aggregate principal amount of $1.792 billion. Kirk Davis, operating company CEO;[2] Stacy Cunningham, Gannett Vice President, Financial Planning & Investor Relations You may obtain free copies of these documents using the sources indicated above. New Media shareholders will own 50.5% of the combined company, while Gannett stockholderswill own 49.5%. Mike Reed will serve as CEO of the newly combined public company, which took on the name of Gannett Co. when the merger was finalized Tuesday. NordVPN includes a 30-day money-back guarantee. A California parole board voted to release Sirhan from his life sentence two years ago, but Gov. Media: It is the largest newspaper in Central Texas. Mike Reed, the media veteran who leads GateHouse's parent company, will be CEO of the newly combined company. The combined company will be headquartered in McLean, Va., with a continued corporate presence in existing locations. Prior to XO, Mr. Bascobert led sales, service, and marketing for the Local Businesses segment at Yodle from 2014 until 2016. Kris Barton, previously Gannett's chief product officer, who will take on the same role. With strategically-aligned leadership and significant scale of operations, the Merger will accelerate the combined companys digital transformation. "The number is going to be higher.". As regional newspapers are bundled together, and venture-backed digital media brands expand their portfolios, the end result is a trend towards increased consolidation. He said the question from a subscriptionpoint of viewis whether those investments are enough to create "news that's worth paying for.". But Apollo believes that the new Gannett can afford to pay the debt off on time or potentially early with no prepayment penalty, according to people with knowledge of the Apollo financing deal who spoke on the condition of anonymity because they were not authorized to speak publicly. While a billionaire secretly funding a lawsuit to take down a news outletmay be a new way of using money to influence the media business, billionaires have long exerted influence on the news simply by owning U.S. media outlets. Founded Date 1906 Founders Jason Taylor Operating Status Active Investor Type Private Equity Firm Stock Symbol NYSE:NEWM Company Type For Profit Contact Email ir@newmediainv.com Phone Number 212.479.3160 [citation needed], In June 2005, Fortress Investment Group bought Liberty for $527 million. In August, Hubbard bought a stake in PodcastOne, a one-stop shop app for podcasts, through Hubbard Broadcasting. Cohen previously served as Deputy Director of the CIA from 2015 to 2017. New Media CEO Mike Reed, who will become CEO of the new Gannett, told investors on Oct. 31 that "we feel great about the synergies.". In 1989, John Barbey started the Reading Globe and Mitten Manufacturing Company in Pennsylvania. The GateHouse Media corporate strategy continues to focus on acquiring and operating traditional local media businesses and transforming them from print-centric operations to multimedia operations. Gavin Newsom (D) blocked the move. Stockholders of New Media and Gannett are urged to read all relevant documents filed with the SEC, including the Registration Statement and the Joint Proxy Statement, as well as any amendments or supplements to these documents, carefully when they become available because they will contain important information about the proposed transaction. It published 144 daily newspapers, 684 community publications, and over 569 local-market websites in 38 states. [29], In March 2018, GateHouse announced its $47.5 million purchase of the Austin American-Statesman of Austin, Texas. They unquestionably get more than enough daily hits to qualify. United Kingdom: Oxford University Press. Some of the top media owners in the U.S. have dominated the news media landscape for over a century, and continue to grow in the era of digital news. "A lot of the focus in the early days will be on integration and cost savings, and the key to success will end up being how much of those cost savings are they able to ultimately plow back into the product itself and serving the local communities," saidSilberman, a former general manager of digital media at New York Media, the parent company of New York magazine. Ashley Higgins, New Media Investor Relations ir@newmediainv.com (212) 479-3160 or Media: Jonathan Gasthalter/Nathaniel Garnick Gasthalter & Co. (212) 257-4170 Or Investors: Sam Levenson Arbor . To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Gatehouse re-emerged from the planned bankruptcy in November 2013. Barbey is a member of the billionaire Barbey family, which made its fortune in textiles and manufacturing. The last step was to put a name (and a face) to each company by identifying the highest-level owners. The combined companys management team will be led by New Medias current Chairman and Chief Executive Officer, Michael Reed. [28], In February 2018, GateHouse announced the acquisition of Kirk Davis's independently owned Holden Landmark Corporation for an undisclosed sum. Fortress owned 52% of GateHouse debt. The companies believe that diversity can strengthen board performance and New Media is actively searching for women and other candidates with diverse backgrounds and experiences. The newspapers own reporting outed the billionaire buyer, who reportedly arranged the $140 million deal through his son-in-law. With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. This seems very strange. At the time of his purchase, Henry said he didnt plan to influence the papers sports coverage. [9], By 2013, GateHouse Media grew, operating in 330 markets across 21 states, but they found themselves in a debt situation that would prohibit future growth. 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The Globe was previously owned by the New York Times for twenty years. By Marc Tracy Gannett, the Owner of USA Today, Is About to Get a Whole Lot Bigger GateHouse Media, a newspaper company backed by a hedge fund, agrees to buy the venerable chain for roughly $1.4. Sheldon Adelson The Las Vegas Review-Journal. Vice Media owes FTI Consulting nearly $1 million in fees, some dating back to 2019, a court filing alleges. The company has been in communication with the NYSE regarding its noncompliance with continued listing standards, but was unsuccessful in its efforts to avoid suspension and delisting. [4] Immediately after the merger was finalized, all GateHouse Media URLs began redirecting to Gannett.com. Another is digital marketing services, where Gannett's recently appointed CEO, Bascobert, is devising a strategy for growth. Gannett will be acquired by New Media Investment Group, which owns Gatehouse. 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