New Media Investment Group is a New York City-based private equity firm that is the parent company of Gannett Co., Inc., the largest newspaper publisher in the United States. Unsurprisingly, two great empires of the pastBritish and Frenchstill have largest remnants of their past breadth. [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. [7], On September 4, 2013, News Corp announced that it would sell the Dow Jones Local Media Group, a group of 33 local newspapers, to Newcastle Investment Corp, an affiliate of Fortress, for $87 million. The deal "gives us a much broader platform on which to build our digital businesses and to help each of these local markets to become engines of growth for us from a digital perspective," Gannett CEO Paul Bascobert said Thursday at the company's shareholder meeting, where the vote results were revealed. It is expected that the dividend will be increased over time as synergies are realized and leverage is reduced. Additionally, the joining of New Medias UpCurve and GateHouse Live businesses with Gannetts ReachLocal and WordStream subsidiaries will provide multiple, diversified marketing and revenue solutions and position the combined company as a stronger partner for advertisers and small businesses (SMBs) in the markets served. Unlike others on this list, the Cook Islands in the South Pacific is not only self-governing but also runs its own foreign and defense policy and is in free association with New Zealand. The combined companys Board of Directors will have nine members, including Mr. Reed as Chairman, five independent directors from New Media, and three independent directors from Gannett. General Motors is investing heavily in another strain of its business besides EVs: warehouses for distributing replacement parts for the existing park of GM vehicles, nearly all of which run on internal-combustion engines. You see too many of these things done for financial engineering. Ranked: The Largest Bond Markets in the World. Such forward-looking statements speak only as of the date on which they are made. The company, which also owns local papers ranging from the Detroit Free Press to the El Paso Times, missed second-quarter revenue on Monday. Kris Barton, previously Gannett's chief product officer, who will take on the same role. Jay Fogarty, previously senior vice president for corporate development at GateHouse, who will serve in that role for the new company. More than half of them (382) are owned by just seven companies. AAPL, FB, TWTR), Total number of diversity investments made by an investor, Total number of employee profiles an organization has on Crunchbase, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Who owns the news? The 25 CEOs that control the world - AddictiveTips Enhanced scale. This graphic by Pranav Gavali maps the overseas territories of various countries, using a variety of sources including WorldAtlas, Statista, and official country releases. Some bought television stations and magazines, too. The rest of the combined companys senior executive team, which is expected to be composed of highly experienced leaders from both companies, will be announced at a later date. All interested parties are welcome to participate. New Media Investment Group | Company Overview & News - Forbes Several big-name newspaper companies Gannett, Knight Ridder, Lee, McClatchy, Pulitzer, Scripps, Dow Jones, The New York Times and The Washington Post raised capital for acquisitions by selling stock on either the New York or American stock exchanges. To finance the deal, New Media is borrowing $1.8 billion from private equity firm. New Media and Gannett share a commitment to rationalizing costs as the media industry evolves, while continuing to invest in product development, training for newsrooms and understanding readers needs. New Media Investment Group - CrunchBase This scale will meaningfully enhance the combined companys financial profile by leveraging nationwide reach and local presence to expand and deepen relationships with consumers and businesses. Mr. Kevin Sheehan, who currently serves as New Medias Lead Director, will serve as the combined companys Lead Director. 1:02 Gannett on Wednesday named a mix of leaders from the old Gannett and its acquirer, New Media Investment Group, to lead the media company. Mike is a newspaper guy," Gordon said. I think youre going to see that trend [of consolidation] across the industry. 1, Formed in 2013 to restructure GateHouse Medias $1.2 billion of debt chapter 11 bankruptcy, New Media Investment Group operated GateHouse Media as the then-largest newspaper publisher in terms of distinct publications. (212) 479-3160 The company will be based atGannett's headquarters in McLean, Virginia. . Fortress owned 52% of GateHouse debt. Though the numbers have decreased in recent years, regional news media still reaches millions of people each day. Depending on if you count island territories independently or group them together, the final accounting of overseas territories and dependencies by country can vary. New Media Investment Group Portfolio Investments, New Media Investment Kirk Davis, operating company CEO;[2] As an overseas map, it also excludes territories sharing a border, or that are part of a larger state or province (like Germanys Heligoland, part of the state of Schleswig-Holstein). Misfits continues to move into the creator space by bringing in top talent from outside the gaming industry. On July 2, 2018, GateHouse acquired SouthernKitchen.com, the Atlanta-based Southern food and lifestyle brand. They are all of Jewish descent. Alison Engel, Gannetts current Chief Financial Officer, is expected to serve as the Chief Financial Officer of the combined organization upon closing. The actual results, liquidity and financial condition may differ from the anticipated results, liquidity and financial condition indicated in these forward-looking statements. ir@newmediainv.com This list of top 100 news sites was compiled using the following criteria: The top digital-native news outlets by monthly unique visitors (Pew Research and ComScore, excluding sports) In fact, more than half of existing newspapers have changed ownership in the past 15 years, some multiple times. These 15 Billionaires Own America's News Media Companies - Forbes [22], In November 2016, GateHouse announced the purchase of Harris Enterprises, based in Hutchinson, Kan., which operated six daily newspapers in Kansas and Iowa. In addition to islands ceded by Spain, the rest were unclaimed islands incorporated as part of the Guano Islands Act of 1856, which sought sources of guanofeces of bats and seabirds used as agricultural fertilizer and for gunpowder production. GateHouse Media Inc. was an American publisher of locally based print and digital media. New Media Investment Group to buy Commercial Appeal parent, Gannett Who owns the media in the us Updated in 2022 - Owners Guide for All And consider that this list reflects current status as of 2023. Which Countries are Buying Russian Fossil Fuels? One of the furthest is New Caledonia, a French territory around 17,000 km away from European France. How Does U.S. Electricity Generation Change Over One Week? The . In the third quarter, Gannett's digital subscriptions rose 27% to 607,000, compared with the same period a year earlier, while New Media's rose 65% to 217,000 over the same stretch. The Term Loan will be freely pre-payable without penalty, and the combined company is expected to have a strong cash-flow profile that will permit aggressive deleveraging. Together, the new company's publications and digital marketing services will be under pressure to stem revenue declines. Gannett said it will later fill the chief marketing officerrole. As of early 2022, Gannett was seeking an early buyout of Fortress's outside management role. Inaddition to USA TODAY, Gannett owns 109 local media properties operated as the USA TODAY Network including the Arizona Republic, Detroit Free Press, Milwaukee Journal Sentinel and Indianapolis Star as well as United Kingdom-based Newsquest Media Group and digital marketing assets like WordStream. These forward-looking statements are not a guarantee of future performance and involve risks and uncertainties, and there are certain important factors that could cause actual results to differ, possibly materially from expectations or estimates reflected in such forward-looking statements, including, among others: Additional risk factors that could cause actual results to differ materially from expectations include, but are not limited to, the risks identified by New Media and Gannett in their respective most recent Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Bill Scanlon will serve as interim head of UpCurve, which provides services to small and medium-sized businesses. The breadth and depth of each companys digital offerings will make the combined company a leading digital media player. New Media Investment Group (NYSE:NEWM) is focused primarily on investing in a diversified portfolio of local print and online media assets, and on growing existing advertising and digital marketing businesses. 5, Michael E. Reed is the president and CEO of New Media Investment Group. [19] As of April 2018, GateHouse Media was publishing 144 daily newspapers, 684 community publications, and over 569 local market websites in 38 states. Gannett Co. to be sold to New Media Investment Group - Milwaukee It intends to operate newspaper, media directory and other media content businesses. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. The new company's financial success will hingeon its ability to shed overlapping costs and achieve what it calls a "digital transformation" built on increased revenue from digital products and marketing services. [citation needed] In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. Christopher Ruddy became the CEO of the company and decided to take it in a new direction. 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. Gannett-New Media Investment Group merger: Key executives appointed New Medias Transaction Committee retained Jefferies LLC as its independent financial advisor, and Wilson Sonsini Goodrich & Rosati as its legal counsel. Precise vote totals were not immediately available, but New Media CEO Mike Reed said that about 99% of the 75% of New Media shareholders who voted approved the deal. According to Delport, based on the company's own calculations, Vice has a global digital audience of 300 million monthly users across its owned-and-operated properties as well as platforms like. Certain statements in this communication may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect New Medias and Gannetts current views regarding, among other things, the proposed transaction between New Media and Gannett, the expected timetable for completing the proposed transaction, the benefits and synergies of the proposed transaction and future opportunities for the combined company, as well as other statements that are other than historical fact. [31] The Beacon Journal is a daily newspaper tracing its storied, Pulitzer Prize-winning history to 1839's Summit Beacon, which early in the 20th century came under the editorship and ownership of publisher Charles Landon Knight, serving as the flagship newspaper of the Knight Newspaper Company, later known as Knight Ridder.[32]. We have created three indices (time-stamped May 11, 2021): US Mainstream Media Ownership (176 parent companies and standalone news outlets) Emerging Digital Nonprofits and Their Donors (231) Seven Big Owners of Daily Newspapers in America (own more than half of the major daily newspapers in the U.S. Index is organized by the state to highlight . 8, New Media Investment Group is a private equity firm which focuses on investing in local media assets, advertising, and digital marketing businesses. In the restructured plan, Gatehouse stock was cancelled and a new holding company for the parent, New Media Investment Group, Inc., was formed.

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