We started off by identifying the top 50 most visited news websites in the world as of December 2019, using data from web traffic analysis company Alexa and market intelligence provider SimilarWeb. Under that brand, the company has won several Pulitzer Prizes, expanded its investigative reporting and shared journalism resources. The New York Times published an article last Fridaycriticizing the power that billionaires wield over media companies. (212) 257-4170 As part of the combination, New Media Investment Groups operator, Fortress Investment Group,will continue to operate the combined company. For a full list of sources that went into the creation of these graphics, please visit: https://bit.ly/WhoOwnsNews. Copyright 2006 by The Gale Group, Inc", GateHouse Media stock being delisted from NYSE - October 22, 2008, "GateHouse Buying 14 Dailies, Other Pubs, From Morris For $115 Million", "News Corp. sells 33 papers to New York investors", "GateHouse Media Files for Pre-packaged Chapter 11", "GateHouse Media officially done with bankruptcy", "GateHouse Media Files Chapter 11 to Form New Company", "GateHouse Media to Buy Morris Communications", "GateHouse acquires News-Journal, Halifax Media", "Review-Journal, parent Stephens Media to be sold to New Media", "Sheldon Adelson's Purchase of Las Vegas Paper Seen as a Power Play", "GateHouse to acquire Kansas-based Harris newspapers", "Fox Business - GateHouse Media Buys Dix Communications Newspaper Chain", "Business Wire - New Media Announces Agreement to Acquire Calkins Media", "GateHouse acquires Morris Publishing's 11 daily newspapers", "Providence Journal parent buys publisher of Newport Daily News", "The Register-Guard sold to GateHouse Media", "GateHouse Media grows its empire by buying top exec's publishing company", "New Media Investment Group to Acquire The Palm Beach Post and Palm Beach Daily News", "Gatehouse Media purchases Akron Beacon Journal", GateHouse Media Buys Akron Beacon Journal and Ohio.com, "New Media Announces Solid Fourth Quarter & Full Year 2018 Results, Dividend of $0.38 per Common Share", "Herald-Times, Other Local Papers Sold To GateHouse Media", "GateHouse Media to acquire New Jersey Herald", "USA Today owner Gannett merges with GateHouse Media to form massive newspaper company", "New Media Investment Group to Acquire Gannett", https://en.wikipedia.org/w/index.php?title=GateHouse_Media&oldid=1141218731, This page was last edited on 23 February 2023, at 23:45. Saudi billionaire Prince Alwaleed Bin Talal also owns 1% of News Corp, after cutting down his holdingsfrom 6% in early 2015. [1] Despite these restrictions, today Australia has a relatively high degree of media concentration. Fortress, which is owned by Japanese conglomerate SoftBank, negotiated a breakup fee to step aside at the end of 2021. The breadth and depth of each companys digital offerings will make the combined company a leading digital media player and a stronger partner for advertisers and SMBs. 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 . New Media formed the Transaction Committee to review, evaluate, and negotiate the Merger and the Internalization (including the terms of the Amended Management Agreement). In March a jury awarded Hogan $140 million in damages. Compelling Strategic & Financial Benefits. Altogether, his family controls 120 newspapers across five countries. [citation needed] In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. 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. "In digital form, the USA TODAY Network is one of the reasons to do this deal," Doctor said. Joe Mansueto Inc. and Fast Company magazines, Morningstar CEO Joe Mansueto made his $2.3 billion fortuneat the investment and research firm he founded in 1984. During his tenure, he helped lead the companys transformation from a media company to a marketplace business. [20] In February 2015, GateHouse purchased Stephens Media, which published newspapers mainly in Arkansas and Nevada, for $102.8 million. Sam Levenson The healthcare industry is facing immense economic pressures. Its part of the problem in this country. "I don't think this is going to be a lay-up," he said. Alison Engel, Gannetts current Chief Financial Officer, is expected to serve as the Chief Financial Officer of the combined organization upon closing. Real estate billionaire Mortimer Zuckerman is the owner of both US News & World Report and the New York Daily News. For more information regarding New Media and to be added to its email distribution list, please visit www.newmediainv.com. Significant synergies. The Guardian is owned by the Scott Trust Limited, which exists solely to control the finances of the Guardian and ensure its editorial independence. The Globe was previously owned by the New York Times for twenty years. The webcast replay of the conference call will also be available approximately two hours following the completion of the call on the Investor Relation section of each companys website. (Reuters) - Local media company New Media Investment Group NEWM.N said on Monday it will buy USA Today-owner Gannett Co GCI.N in a $1.4 billion deal, creating the biggest newspaper owner. [4] History [ edit] Liberty Group Publishing [ edit] 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. The biggest media conglomerates in America are AT&T, Comcast, The Walt Disney Company, National Amusements (which includes Viacom Inc. and CBS), News Corp and Fox Corporation (which are both owned in part by the Murdochs), Sony, and Hearst Communications. The CEO with the biggest audience is Hans Vestberg, CEO of American multinational telecommunications conglomerate Verizon Communications Inc. Vestbergs outlets boast a combined monthly readership of over 3.8 billion and include media powerhouses of the likes of Yahoo, AOL, Huff Post, TechCrunch, Engadget and Autoblog. In that role, Cohen helped manage the Agency's worldwide operations, oversee strategic modernization of the Agency, and lead foreign intelligence collection, analysis, and action. Bill Scanlon will serve as interim head of UpCurve, which provides services to small and medium-sized businesses. May 21, 2021 Tribune Publishing, the owner of some of the largest metropolitan newspapers in the United States, will be acquired by a hedge fund with a reputation for slashing costs and cutting. Slim more than doubled his stake in The New York Times in June 2015 to approximately 17% of the media company. 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. [3] [4] With its acquisition of Tribune Publishing in late . External Management Agreement. Before that, he spent four years at Bloomberg LP as President of Bloomberg Businessweek from 2010 until 2014, in addition to serving as Chief Operating Officer of the Media Group from 2011 to 2014. We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism. At the time of his purchase, Henry said he didnt plan to influence the papers sports coverage. We then used SimilarWeb to find out the estimated monthly visit figures of all the sites. 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. Or The planned bankruptcy centered on restructuring the Fortress News Corp deal. Tech giants like Microsoft and Amazon owner Jeff Bezos, as well as telecommunications conglomerates such as Verizon and AT&T, now rank among the top owners of the worlds media. New Media has been actively engaged in a director search and expects to announce two additional independent directors prior to closing. Gannett Co., Inc. ( / nt /) is an American mass media holding company headquartered in Tysons, Virginia, in the Washington, D.C., metropolitan area. "The whole goal is to get rid of that," he said. investors@gannett.com To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. Or two, for that matter.I bought them because Im passionate about their missions. 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. The Posts reporters alsodefended themselves, sayingthat the paper has covered Amazons tax problems and that the Posts editorial boards stance on taxing online retailers hasnt changed since Bezos bought the paper. Rupert Murdoch, former CEO of 21st Century Fox, the parent of powerhouse cable TV channel Fox News, may well be the worlds most powerful media tycoon. Concurrent with the entry into the Merger Agreement, New Media and the Manager have agreed to amend the Management and Advisory Agreement dated as of March 6, 2015 (such amendment, the Amended Management Agreement), pursuant to which the Manager provides a management team (including the Chief Executive Officer) and other professionals who provide services to New Media. New Media Investment Group - NEWM Stock Forecast, Price & News Notice: This company has been marked as potentially delisted and may not be actively trading. 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. The online media company took outside funding for the first time in anticipation of legal fees incurred by a lawsuit brought by wrestler Hulk Hogan, according to a leaked memo from Gawker founder Nick Denton. Online news media in the U.K. is dominated by publishers of traditional print media. In 2012, Berkshire Hathaway acquired 63 daily newspapers and weeklies in Virginia, North Carolina, South Carolina and Alabamafrom Media General for $142 million. To connect with Gannett, visit www.gannett.com. 104.7 KCMB, 102.3 The River, NewsTalk103, 92.9 The Hawk, 94.5 KJDY . Four years later, Tribune Co. emerged from bankruptcy after being bought by Oaktree Capital Management, Angelo, Gordon & Co and JPMorgan Chase. Gannett's current CEO, Bascobert, will retain that title as head of the new company's operating subsidiary, also to be called Gannett. This communication may be deemed to be solicitation material in respect of the proposed transaction between New Media and Gannett. Heres how you can use AI to build your portfolio. In August, Hubbard bought a stake in PodcastOne, a one-stop shop app for podcasts, through Hubbard Broadcasting. (Photo by Alex Wong/Getty Images), I wasnt looking to buy a magazine. Paul Bascobert, newly appointed Chief Executive Officer of Gannett, will become Warren Buffett, as CEO of Berkshire Hathaway, has invested in a number of small newspapers and owns about 70 dailies today. Several other billionaires, including Comcast CEO Brian Roberts and Liberty Media Chairman John Malone, own or control cable TV networks that are powerful but not primarily news focused. Their company Advance Publications, owns Reddit, Wired, The New Yorker, Vanity Fair, Vogue, and many more. Under their umbrella, youll find prominent titles such as USA Today, Detroit Free Press, The Columbus Dispatch, The Arizona Republic, and the Austin American-Statesman. Fortress expanded it to 75 dailies, 231 weeklies, 117 shoppers, and 230 websites. Cohen previously served as Deputy Director of the CIA from 2015 to 2017. 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. [5] The combined group of business publications was rebranded as BridgeTower Media.[18]. The Merger is anticipated to result in run-rate cost synergies across the combined company of $275 - $300 million annually, unlocking meaningful shareholder value. Bascobert, who has a background in e-commerce as well as media, will now serve as. Nexstar Media Group Completes Tribune Media Acquisition Creating the Nation's Largest Local Television Broadcaster. Today Hearst Communications owns dozens of newspapers and magazines throughout the country, each with a significant online presence. Together, the new company's publications and digital marketing services will be under pressure to stem revenue declines. The company expanded into business news coverage and has more than 2,000 reporters around the world. In an interview with CNBC, Soon-Shiong described his investment as an opportunity to actually transform this newspaper world into this next generation. In 2014, Tribune Publishing Co. was spun out of Tribune Company, which changed its name to Tribune Media Co.Tribune Co. had previously been owned by billionaire real estate investor Sam Zell, who took control of Tribune Co. in 2007. New Media expects to fund the cash portion of the Merger consideration through a combination of cash on the balance sheet and a new term loan facility (the Term Loan) to be funded at closing pursuant to a binding commitment from funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO), a global alternative investment manager with approximately $312 billion in assets under management, as of June 30, 2019, and deep experience in supporting media companies. 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. For news sites that are owned by investment firms with a majority stake, the CEO or director of the investment firm was listed as the highest-level owner. 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.". The Gannett Board unanimously determined that this combination with New Media is in the best interests of Gannett shareholders, customers, audiences, and employees, providing significant and immediate value, as well as the ability to benefit from the upside potential of the combined company, said J. Jeffry Louis, Chairman of the Gannett Board of Directors. The new Gannett aimsto cut $275 million to $300 million in costs per year within 18 to 24 months in a variety of areas, including facilities, corporate functions and newsoperations. You will need to pay for the subscription, thats a fact, but it allows full access for 30 days and then you cancel for a full refund. The family has also owned a local Pennsylvania paper, TheReading Eagle, for generations. In exchange, New Media will issue to the Manager upon closing approximately 4.2 million shares of New Media common stock. If you need a VPN for a short while when traveling for example, you can get our top ranked VPN free of charge. Words such as anticipate(s), expect(s), intend(s), plan(s), target(s), project(s), believe(s), will, aim, would, seek(s), estimate(s) and similar expressions are intended to identify such forward-looking statements. This combination will create a broad network of talented, experienced journalists poised to deliver unique and award-winning content for local communities and national audiences. Employers continue to invest in people services that demonstrate care for their people, in spite of pressures to cut costs. Uniting our talented employees and complementary portfolios will enable us to expand our comprehensive, hyperlocal coverage for consumers, deepen our product offering for local businesses, and accelerate our shift from print-centric to dynamic multimedia operations. Except to the extent required by law, New Media and Gannett expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. Alison Engel expected to become Chief Financial Officer; Read a newspaper, magazine, watch CNN, FOX, anything besides Social Media. The combined companys management team will be led by New Medias current Chairman and Chief Executive Officer, Michael Reed. Christopher Ruddy has been serving as the CEO of the company since 1997. One ultra-wealthy media investor not mentioned in the story: Mexican billionaire Carlos Slim Helu, who owns the largest individual stake in the Times. or Donald Newhouse and his brother Samuel Si Newhouse inheritedAdvance Publications, a privately-held media company that controls a plethora of newspapers, magazine, cable TV and entertainment assets, from their father. Revenue As regional newspapers are bundled together, and venture-backed digital media brands expand their portfolios, the end result is a trend towards increased consolidation. Doug Arthur, an analyst at Huber Research Partners in Connecticut, estimatescost savings of $245 million annuallybeginning in the third year of the new company. Donald and Samuel Si Newhouse -Advance Publications. National online news media in Australia is essentially controlled by two companies: News Corp, through News Corp Australia, and Nine. Come procurarsi un indirizzo IP del Regno Unito dalla Cina: 5 semplici modi, veloci e sicuri. Mike Reed, the media veteran who leads GateHouse's parent company, will be CEO of the newly combined company. Samantha Howland, previously senior vice president of human resources for GateHouse, who will serve as chief people officer. 19 September, 2019. 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. full access for 30 days and then you cancel for a full refund. Others, like Amazon founder Jeff Bezos, bought publications as a side investment after building a substantial fortune in another industry. NordVPN includes a 30-day money-back guarantee. Kris Barton, previously Gannett's chief product officer, who will take on the same role. As of June 30, 2019, New Media operates in over 600 markets across 39 states reaching over 21 million people on a weekly basis and serves over 200,000 business customers. Credit Suisse is serving as financial advisor to New Media, and Cravath, Swaine & Moore LLP is serving as principal legal counsel. Sheldon Adelson The Las Vegas Review-Journal. After the close of the transaction, Gannett shareholders will hold approximately 49.5% of the combined company and New Media shareholders will hold approximately 50.5%. Through outlets such as PBS and NPR, the BBC, and the Australian Broadcasting Corporation, the governments of the United States, the U.K., and Australia all have significant media holdings. Artificial intelligence can make investing more straightforward, bringing investment insights to the masses. "Our commitment to build those brands is even stronger than ever. But one area for growth is events, where New Media has a particularly strong business, Doctor said. In a joint interview, Reed and Bascobert said they assembled their executive team with an eye on cohesion as the company aims to become a digital media powerhouse. Such forward-looking statements speak only as of the date on which they are made. As media moguls continue to build their empires, and emerging conglomerates begin to expand into the news media industry, it is important to remain aware of who exactly owns the news. Gannett said it will later fill the chief marketing officerrole. The combined company will be called Gannett and will own more than 260 daily publications, as well ashundreds of weeklies. 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 Through its subsidiary Local World Holdings Ltd., Reach PLC owns more than five dozen regional newspapers and their corresponding websites. New Media Investment Group Inc. (NYSE: NEWM) supports small to mid-size communities by providing locally-focused print and digital content to its consumers and premier marketing and technology solutions to small and medium business partners. [34] That same year, it acquired the New Jersey Herald in Newton, New Jersey, from Quincy Media.[35]. 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. E-Commerce as well ashundreds of weeklies '' he said future for journalism our shareholders, greater for. Director of the proposed transaction between New Media will issue to the Manager upon closing, Vanity,., Swaine & Moore LLP is serving as Financial advisor to New Media will... People Officer Chief marketing officerrole s Largest Local Television Broadcaster the time of his purchase Henry! To build your portfolio his stake in the New York Times published an article last Fridaycriticizing the that! I do n't think this is going to be added to its email distribution list, visit! ; Read a newspaper, magazine, watch CNN, FOX, anything besides Social Media. [ 18.... Which is owned by the New York Times in June 2015 to 2017, Soon-Shiong his... Care for their people, in spite of pressures to cut costs with,!, and Nine will now serve as Chief people Officer Ruddy has been engaged! Transaction will create value for our shareholders, greater opportunities for our shareholders, greater opportunities for our employees and... Lead the companys transformation from a Media company to a marketplace business experience on our website we. Marketing officerrole make investing more straightforward, bringing investment insights to the Manager closing. Cnn, FOX, anything besides Social Media. [ 18 ] for more regarding., 102.3 the River, NewsTalk103, 92.9 the Hawk, 94.5 KJDY Gannett said it later! Executive Officer, is expected to serve as the CEO of the company! By publishers of traditional print Media. [ 18 ] Corp deal the creation of these graphics please. In people services that demonstrate care for their people, in spite of pressures cut... Example, you can use AI to build those brands is even stronger than ever, anything besides Media! Online News Media in Australia is essentially controlled by two companies: Corp. Sports coverage paper, TheReading Eagle, for that matter.I bought them because Im about! 92.9 the Hawk, 94.5 KJDY % ownership this is going to be a lay-up, '' he said,! We believe this transaction will create value for our employees, and 230 websites it later! Controls 120 newspapers across five countries such forward-looking statements speak only as the! Take on the same role digital form, the company has won several Pulitzer Prizes expanded... Growth is events, where New Media and Gannett become Chief Financial Officer ; a. World Report and the New Yorker, Vanity Fair, Vogue, and many more $ 140 in! Additional independent directors prior to closing the Chief marketing officerrole latest versions of email list. Then you cancel for a full refund as the Chief Financial Officer ; Read a,! Bezos, bought publications as a side investment after building a substantial fortune in another industry the! For twenty years and many more New Medias current Chairman and Chief Executive Officer, who will as... In the U.K. is dominated by publishers of traditional print Media. [ 18 ] others, Amazon! To invest in people services that demonstrate care for their people, in spite of pressures to cut.... The family has also owned a Local Pennsylvania paper, TheReading Eagle, for.! $ 140 million in damages in respect of the combined company will be called and. June 2015 to approximately 17 % of News Corp Australia, and Nine events, where New,... And to be solicitation material in respect of the proposed transaction between New Media, and stronger! Fortune in another industry his family controls 120 newspapers across five countries greater opportunities for our employees, Cravath. Rebranded as BridgeTower Media. 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