Mr. Bascobert joined Bloomberg from Dow Jones & Co. where he was Senior Vice President of Operations from 2006 until 2007 and Chief Marketing Officer from 2007 until 2009. In fact, more than half of existing newspapers have changed ownership in the past 15 years, some multiple times. New Media Investment Group Portfolio Investments, New Media Investment The News Media Alliance says there are 672 major daily newspapers in the United States. As regional newspapers are bundled together, and venture-backed digital media brands expand their portfolios, the end result is a trend towards increased consolidation. The proposed transaction will be submitted to New Medias stockholders and Gannetts stockholders for their consideration. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. New Media Investment Group | Company Overview & News - Forbes Cautionary Statement Regarding Forward-Looking Statements. It intends to operate newspaper, media directory and other media content businesses. 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 All Rights Reserved. Gannett brands include USA TODAY NETWORK with the iconic USA TODAY and more than 100 local media brands, digital marketing services companies ReachLocal, WordStream and SweetIQ, and U.K. media company Newsquest. Mr. Bascobert was the President of XO Group from 2016 until its sale to Permira Equity in 2019. Growing a successful business on social media requires a combination of authenticity, passion, consistency, engagement and creativity. It is expected that the dividend will be increased over time as synergies are realized and leverage is reduced. 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. Prior to XO, Mr. Bascobert led sales, service, and marketing for the Local Businesses segment at Yodle from 2014 until 2016. Dix Communications operates in northeastern and east-central Ohio, including more than 30 daily and weekly newspapers. Who owns new media investment group? New Media Investment Group to Acquire Gannett Two Leading Media and Marketing Solutions Companies Align to Preserve and Enhance Quality Journalism Creates the leading U.S. print and. The United States by itself accounts for 11 of the territories spread out across the North and South Pacific. Advance Local Publications (22 dailies). Michael E. Reed is the president and CEO of New Media Investment Group. 5, Michael E. Reed is the president and CEO of New Media Investment Group. But he does not believe the company will achieve its cost-savings goal. Bill Scanlon will serve as interim head of UpCurve, which provides services to small and medium-sized businesses. (703) 854-3168 Our Standards: The Thomson Reuters Trust Principles. The industry may be facing another dramatic drop off in ownership diversity as the two largest players, New Media Investment Group and Gannett, are on the path to merging. Aug 5, 2019 Speculation became reality Monday with official word that the Milwaukee Journal Sentinel's owner will be sold to New Media Investment Group Inc. of New York City, which until. Mike is a newspaper guy," Gordon said. Please visit the Investor Relations section of either companys website (www.newmediainv.com or www.gannett.com). 8 million customer contracts worldwide. At least 82% of Gannett's shares werevoted in favor of the deal, Gannett chairman J. Jeffry Louis said. "They are of enough scale that they are doing a good amount of digital national business, and the GateHouse properties added in there gives them more scale.". Two Leading Media and Marketing Solutions Companies Fortress is owned by SoftBank, a Japanese conglomerate. The buyer is New Media Investment Group, Inc., formerly Gatehouse Media, which is the largest newspaper publisher in the United States by number of titles. At the forefront of intellectual property valuation, acquisition and utilization, the Concord investment underscores the partners' belief in the lasting and appreciating global value of superior original creative content. Index of US Mainstream Media Ownership - Harvard University To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Bascobert said they sought to "create a careful balance between the two organizations" with a goal of ensuring people are on the same page culturally and strategically. "I don't think this is going to be a lay-up," he said. Arbor Advisory Group Are The Days Of Organic Social Media Reach Over? New Media Investment Group (NEWM) Stock Forecast, Price & News - MarketBeat Chief Executive Officer of the combined companys operating subsidiary, Strategically-aligned leadership committed to expanding and promoting We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism. During his tenure, he helped lead the companys transformation from a media company to a marketplace business. New Media is run by Fortress Investment Group, which is owned by Japan's SoftBank Group Corp 9984. Alison Engel, previously Gannett's chief financial officer, who will serve as CFO of the new company. 11 12 As GateHouses parent company, New Media operated as many as 144 daily newspapers, 684 community publications, and 569 local market websites in 38 states. Fortress expanded it to 75 dailies, 231 weeklies, 117 shoppers, and 230 websites. For more information regarding New Media and to be added to its email distribution list, please visit www.newmediainv.com. 9 10 The firm was formed in 2013 to restructure $1.2 billion of debt and restructure newspaper publisher GateHouse Media following Chapter 11 bankruptcy. For example, the LA Times is now in the hands of its third owner since 2000, after being purchased by billionaire biotech investor Patrick Soon-Shiong. 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. 1:02 Shareholders cleared the way Thursday for New Media Investment Group and USA TODAY owner Gannett to join forces in a deal that will create the largest U.S. media company by print. I suspect broad social media sites could lose a lot of steam in the future as more dedicated sites meeting the needs of people with similar interests will become more popular. New Media is focused primarily on investing in a high quality, diversified portfolio of local media assets. 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. Some billionaires, like Rupert Murdoch and Michael Bloomberg are longtime media moguls who made their fortunes in the news business. The Newsmax Media Group is the parent company of Newsmax TV, which is carried on various cable and satellite networks, as well as Newsmax.com Newsmax Media Group, founded by Newsmax Media CEO Christopher Ruddy, President James Pinkerton, and Newsmax Media Chairman and CEO Christopher Ruddy. An overseas territory or dependency is a region with ties abroad to a sovereign nationnot a completely independent state, but also not a constituent part or administrative subdivision of the parent country. Jay Fogarty, previously senior vice president for corporate development at GateHouse, who will serve in that role for the new company. More than 90,000 servers in operation. That was down from about $1.4 billion when the deal was announced in August because of a decline in New Medias stock price. This island in the Indian Ocean 700 km off the coast of Madagascar was first settled by the French in the 17th century, though it was discovered earlier by the Portuguese. [5] Headquartered in Downers Grove, Illinois, Liberty then expanded the network increasing the total newspapers to 330 by 2000. About 25% of the combined companys revenue will come from digital, New Media Chief Executive Officer Michael Reed said on a conference call. 24, Since its founding, New Media Investment Group has purchased, merged, reorganized, and reconstituted hundreds of newspapers in large and small markets across the United States. You may obtain free copies of these documents using the sources indicated above. 6 7 Reed has faced criticisms in the past from the NewsGuild, an affiliate of the left-wing Communications Workers of America labor union, for purchasing newspapers, consolidating editorial practices, and reducing jobs to increase profits. Website http://www.mediainvestmentgroup.com Industries Investment. Its parent company, New Media Investment Group, merged with Gannett in 2019. 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. The company was founded on June 18, 2013. Supplemental information regarding the transaction will be posted to the Investor Relations section of each companys website. Bill Church, Senior VP News; Liberty Group Publishing was formed in 1998 when Kenneth L. Serota, a former Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. Doug Arthur, an analyst at Huber Research Partners in Connecticut, estimatescost savings of $245 million annuallybeginning in the third year of the new company. Mr. Kevin Sheehan, who currently serves as New Medias Lead Director, will serve as the combined companys Lead Director. Use Forbes logos and quotes in your marketing. 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. The Manager is restricted from selling these shares until the expiration of the Amended Management Agreement, or otherwise upon a change in control and certain other extraordinary events. Alden Global Capital Venture Capital owns Digital First Media (56 dailies). [7] On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications. 19, Michael E. Reed is the president and CEO of New Media Investment Group. [34] That same year, it acquired the New Jersey Herald in Newton, New Jersey, from Quincy Media.[35]. 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. On July 2, 2018, GateHouse acquired SouthernKitchen.com, the Atlanta-based Southern food and lifestyle brand. New Media Investment Group's mailing address is 1345 AVENUE OF THE AMERICAS, NEW YORK NY, 10105. Jonathan Gasthalter/Nathaniel Garnick [23] In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. Twins Haley and Hanna Cavinder have been the face of name, image and likeness since its inception, and now they're charting a course for transitioning to a career in content creation. [citation needed] In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. 8, New Media Investment Group is a private equity firm which focuses on investing in local media assets, advertising, and digital marketing businesses. The Company combines organic growth with value-generating synergetic acquisitions, which has demonstrated continuous strong profitable growth with a revenue . 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. Todays graphic, created by TitleMax, is a broad look at who owns U.S. news media outlets. 'Pivot' needed for digital transformation as merger is completed, Shareholders of USA TODAY owner Gannett and New Media Investment Group approve merger, New Media and Gannett announce board of directors for combined company, Your California Privacy Rights / Privacy Policy. All quotes delayed a minimum of 15 minutes. This is normal when the security: Has been acquired or taken private Has merged with another entity Has changed its name and has a new CUSIP (and/or symbol) Has been delisted and the ticker has changed Please use Search to find the security you were looking for. The . [26], In October 2017, GateHouse acquired Edward A. Sherman Publishing Company, parent of The Newport Daily News. [33], On January 28, 2019, it was announced that GateHouse Media had acquired the publishing division of Schurz Communications including The Herald-Times in Bloomington, Indiana, South Bend Tribune in South Bend, Indiana, and other papers in Clay, Lawrence, Monroe, Morgan, Orange, Owen, and Putnam counties in Indiana. New Media to buy Gannett for $1.4 billion, creating biggest U.S

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