Posts Tagged ‘ GateHouse Media ’

Moody’s downgrade of GateHouse Media, and their prediction it would declare bankruptcy, had a negative effect on its stock price Friday: GHSE had been rolling along pretty comfortably around the 20-cent level for weeks now, and at Fitz & Jen we kept waiting, frankly, for the session when we could finally report, hey, look at...
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Via The Turner Report: GateHouse Media, delisted last year by the New York Stock Exchange, keeps plugging along in Pink Sheets trading, closing at 18 cents per share Wednesday, down one cent from the previous day.
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Two interesting bits of GateHouse Media economic news from the Turner Report. First, the bad news: The quarterly report filed today with the Securities and Exchange Commission, showed a sizable decrease in revenue from the same quarter the previous year, with losses in advertising, circulation, and printing, and a $526.1 million loss for the first six...
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I suspected is was about this. A little known fact of the March 13, 2007, agreement through which GateHouse Media bought the Peoria Journal Star and other Copley Press newspapers in Illinois was that Copley would pay termination benefits for certain employees. The lawsuit filed by GateHouse against Copley on Wednesday accuses Copley of breaching...
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I don’t know much, just these details that hit my inbox a few moments ago: Gatehouse Media Illinois Holdings, Inc. v. The Copley Press, Inc. et al Plaintiff: Gatehouse Media Illinois Holdings, Inc. Defendant: The Copley Press, Inc. and Does Case Number: 2:2009cv05536 Filed: July 29, 2009 Court: California Central District Court Office: Western Division – Los Angeles Office County: XX US, Outside California Presiding Judge: Referring...
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I learned today that Oliver Wiest — a former co-worker from the Jacksonville Journal-Courier — is slaving away as an editor at the Macomb Journal, another GateHouse Media publication. One of these days, Oliver, we’ll have to make that road trip to Goofy Ridge.
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Thus speaketh Gene Hall of  the Charles City Press, as quoted in Rural Blog: Hall notes that he was “a corporate officer in a publicly traded media company for more than 15 years.” His piece doesn’t name the companies, but he told us that they were, in succession, Hollinger, Liberty Group and GateHouse Media. “Never...
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From Dan Kennedy’s Media Nation blog: Media Nation is picking up reliable buzz that GateHouse Media, which owns some 100 community newspapers in Eastern Massachusetts, will be announcing significant downsizing moves in the very near future. For those who don’t read Peoria Pundit regularly, GateHouse Media also owns the Peoria Journal Star, the Peoria Times-Observer, the...
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From the Democrat and Chronicle: In response, the company plans to do more cost-cutting. Its compensation costs were down 10 percent during the first quarter of 2009 compared with the same quarter in 2008, and Reed said, “We will be even more aggressive over the next couple of quarters as we weather this economic downturn....
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From Editor and Publisher: GateHouse Media, publisher of 92 community dailies and hundreds of non-dailies, reported a first-quarter operating loss of $10.3 million from a year-ago profit of $200,000. Total revenue fell by 15% to $139.2 million, and was down by 16.3% to $138.6 million on a same-property basis, comparing the results of newspapers and other...
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In an un-bylined article, the Journal Star reported on parent company GateHouse Media’s 2nd quarter statement and conference call. It’s the first coverage the PJS has given the company since the company’s stock prices fell below $1. The article stated that GateHouse was suspending dividend payments and was going to use the money to pay...
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This time, the victims are the folks who rely on the McPherson (Kan.) Sentinel. And the press release they printed on the front page makes it sound like just another run of the mill business decision, much like switching from brand-name coffee to the generic stuff in the cafeteria. But they ARE going to update...
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GateHouse Media — which closed at 44 cents a share on Friday — opened at 60 cents, then dropped down to 40 cents. It hovered around 43 cents most of the day. Two minutes before closing, Marketwatch was telling me the stock was worth 40 cents, but at close, the stock had rallied to...
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The New York Times writes about how no one wants to buy newspaper companies anymore. Of course, GateHouse Media’s woes get a mention. But they saved the money paragraph for the last: Despite the long-term challenges, analysts and bankers think that buyers will return to the newspaper market, though they may be outnumbered by people...
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The lovely and talented Marie Carnes set me an email with an observation: Most bankruptcies are filed in court during the first week of the month. So, if GateHouse Media is to inclined, we might hear about it within the next seven days. Marie predicts that the company would probably declare Chapter 11, which would...
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I’ve gotten used to the sound of silence from the local media when it comes to bad financial news regarding local media. So I was a bit surprised with I saw this link to bad news about GateHouse Media coming from, of all places, a GateHouse Media newspaper. Alas, all I’m getting is page-cannot-be-found message. However, I...
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From Editor & Publisher: GateHouse Media is likely to default under its credit agreement unless it can negotiate an amendment to its covenants or get a cash injection from its largest stakeholder, Moody’s Investor Service says in a report downgrading the community newspaper publisher’s credit and probability of default ratings. and GateHouse could bump up against loan...
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On the first trading day after its stock reached a new low, GateHouse Media saw the value of its stock plummet to an all-new low of 66 cents a share. The stock rebounded to 90 cents a share, less than what’s needed to avoid delisting on the New York Stock Exchange. The drop is being...
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The folks who are boycotting the Norwich (Connecticut) Bulletin are fighting back by offering news via hyper-local citizen journalism. The complaints? Censored and poorly edited letters to the editor, fact errors, ignoring legitimate news, boosterism in editorials. My two cents: Some of the complaints seem to be of a partisan nature, which is fine. But you...
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Here’s a start-of-the-work-week tour of the Blogosphere: Long before GateHouse Media bought the Peoria Journal Star, I was writing about how Peoria’s only daily newspaper skewed its editorials and coverage to promote some local candidates at the expense of others (here’s one example, out of many). According to this site, another GateHouse newspaper is getting...
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