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Gannett announces $500M debt refinancing
McLean-based Gannett Co. Inc., the largest newspaper publisher in the U.S., announced Tuesday it has refinanced approximately $500 million in debt to more quickly repay on outstanding loans. Gannett announced in early April that it was negotiating with its vendors, creditors and pension regulators in order to preserve the company’s liquidity. It was noticeably not […]
Gannett sells business media, marketing subsidiary
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, sold its business media and B2B marketing subsidiary, BridgeTower Media, to Los Angeles-based middle-market private equity firm Transom Capital Group, the company announced last week. Financial terms of the sale were not disclosed. Through more than 40 digital and print brands, BridgeTower Media provides media and [&hel[...]
Newsroom jobs eliminated at Free Lance-Star, News & Advance
Two more Virginia newspapers — The Free Lance-Star in Fredericksburg and The News & Advance in Lynchburg — have dismissed employees, following newsroom layoffs last week at three other publications owned by Lee Enterprises. Two editors, a page designer and two circulation clerks have been laid off at The News & Advance. Their jobs were […]
Richmond Times-Dispatch, Roanoke Times, Daily Progress see newsroom layoffs
Updated Sept. 11 At least five newsroom staffers at the Richmond Times-Dispatch were told Friday that they were being laid off by owner Lee Enterprises. Four people laid off were part of the bargaining unit for the Richmond Newspapers Professional Association, the Times-Dispatch’s newsroom union, a representative confirmed. They include a business reporter, a photojournalist, […]
Lee Enterprises plans newsroom cuts at Virginia publications
The Daily Progress newspaper in Charlottesville will lay off its four-person copy desk in early October, as Iowa-based owner Lee Enterprises eliminates local jobs in favor of a consolidated copy desk in Indiana or Wisconsin, according to a memo sent to affected employees Friday. The cuts at The Daily Progress are possibly just the beginning […]
Gannett eliminates CEO position for operating company
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, announced Friday that its board of directors has decided to eliminate the CEO position for Gannett Media Corp., its operating company. The decision results in the departure of Paul Bascobert, who had joined the company in August 2019. Gannett Chairman and CEO Michael Reed has assumed […]
Gannett announces mass layoffs, pay cuts, furloughs
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, sent an email to employees Monday announcing mass layoffs, furloughs and pay cuts, according to The Daily Beast. Like other media outlets, the company has reportedly a large drop in advertising revenues recently due to the financial crisis caused by the COVID-19 pandemic. Gannett has a […]
BH Media sells publications, including 10 Va. newspapers
Berkshire Hathaway Inc. is selling its BH Media Group publications portfolio, which includes the Richmond Times-Dispatch and nine other Virginia newspapers, to Lee Enterprises Inc., which has been managing the newspapers since July 2018, Lee announced Wednesday. The Virginia papers included in the sale are the Richmond Times-Dispatch, The Roanoke Times, The Daily Progress in […]
