Media: GateHouse continues to lose money

By Billy Dennis on November 14th, 2007

From Forbes:

GateHouse Media Inc. late Tuesday reported a third-quarter net loss of $8.75 million, or 17 cents a share, compared with a net loss of $10.8 million, or 49 cents a share, during the year earlier.

There were 52.3 million shares outstanding in the latest quarter versus 22.2 million last year.

The Fairport, N.Y.-based publisher posted revenue of $163.4 million for the quarter, up from $97.6 million a year ago.

GateHouse owns the Peoria Journal Star, TimesNewspapers, the Pekin Daily Times and most daily newspapers in this part of the state.

Meanwhile, Goldman has downgraded GateHouse from a “buy” recomendation to “neutral.”

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8 Responses to “Media: GateHouse continues to lose money”

  1. Bookworm says:

    Was that a Freudian slip perhaps… Gatahouse continues to “lose” money but also be “loose” with its money by continuing to try to buy other papers (which they can then run into the ground)?

  2. Alan Francis says:

    One sign of the times: radio reports Jack Brimeyer is retiring as Journal Star managing editor.

  3. Billy Dennis says:

    Mr. Francis (may I call you “Al?”): Which radio station was this, BTW. I had heard and reported rumors of changes a week or so ago.

  4. Alan Francis says:

    It was on WCBU at 5 p.m. tonight.

    As your long-lost pal, sure, you can call me Al.

  5. Al — Does that mean you can call Mr. Dennis “Betty”?

  6. Billy Dennis says:

    Does that make you Wilma, C.J.?

  7. [...] to the catastrophe facing the SJ-R, the Peoria Journal Star and other GateHouse media newspapers if GateHouse continues to hemorrhage cash while trying to keep the stockholders happy with dividends that seem to be out of proportion to [...]

  8. newsbacker says:

    Did you guys loose your jobs in circulation for tippling during the holidays, is that why you’re so bitter? Woe to world if it must rely on blogs for news. It’s hard not to see newsblogs as anything more than self aggrandizing nonsense. Why not spend time investigating how bloggers are under no legal requirement to report FACTS. I fear the media’s demise will come not from the Gatehouses of the world but the demagogues who package their opinions as fact and who will say anything for attention(advertising dollars). BTW note in a SEC 13sd filing 11/19 East Peak partners increased their ownership of GHS from 7 to 10 percent as the stock was dropping. Wonder why?

    which try to represent truth with no legal requirement to print facts.