Star Journal

Top Menu

  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe

Main Menu

  • Local
    • News
    • Business
    • Schools
    • Law & Order
    • Arts & Ent
    • Wedding Planner
    • Viewpoint
    • Sports
      • Sports News
      • High School Sports Scores
  • Covid 19
  • Outdoors
  • Wellness
  • Classifieds
    • View Ads
    • Place Ads
  • Our Legals
    • Legal Ads
    • Statewide
  • Obits
  • Lake View
  • Northwoods NOW
  • Living On The Lake
  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe

logo

Star Journal

  • Local
    • News
    • Business
    • Schools
    • Law & Order
    • Arts & Ent
    • Wedding Planner
    • Viewpoint
    • Sports
      • Sports News
      • High School Sports Scores
  • Covid 19
  • Outdoors
  • Wellness
  • Classifieds
    • View Ads
    • Place Ads
  • Our Legals
    • Legal Ads
    • Statewide
  • Obits
  • Lake View
  • Northwoods NOW
  • Living On The Lake
Opinion
Home›Opinion›Gannett sold to Tokyo-based holding company

Gannett sold to Tokyo-based holding company

By StarJournal
August 8, 2019
2036
0
Share:

Publisher’s Letter

Dear Reader,

The news is out. Gannett just sold itself to the highest bidder. Let’s take a look at this.

According to an article in USA Today, a Gannett-owned newspaper, Gannett was acquired by GateHouse Media, which is owned by New Media Investment Group, which is owned by Fortress Investment group, which is owned by Softbank. Is that a little bewildering to you? I think it is for all of us.

Gannett and GateHouse together will own a lot of newspapers. I mean a lot. How many? According to that same article, over 260 daily newspapers. That includes many here in North Central Wisconsin. It will be the biggest newspaper company by number of publications our nation has ever seen.

Now, who is Softbank, the new ultimate owner of the combined Gannett-GateHouse conglomerate?

That’s a good question, and a little hard to answer. We know it is based in Tokyo, Japan, and that it has holdings in telecommunications, e-commerce, finance, broadband, and marketing. Beyond that, what do we know about Gannett’s Tokyo-based masters?

The rationale for this merger is that it will save $250 to $300 million dollars. I think we all know what that means. USA Today reports “Gannett had about 16,980 employees at the end of 2018, while GateHouse had about 10,638 employees, according to their securities fil-ings.” Want to bet how many of those employees will still be with the combined entity a year from now?

In the final analysis, the folks remaining at the newly merged Gannett/GateHouse will be under pressure to make money for their Tokyo, Japan-based private equity owners in order to keep their jobs. How much time will that give them for report-ing our local news here in Wisconsin? How much of the money they collect from us will stay here in the communities or be shipped overseas to their new masters?

I think we know the answers to these questions, and they don’t bode well for our community.

Patrick Wood

Publisher

TagsPatrick Wood
Previous Article

Rhinelander’s new roundabout opens for business soon

Next Article

Top Outstanding Warrants ~ Aug. 9

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    The new Hodag Buyers’ Guide/Star Journal available Jan. 3, 2018

    December 21, 2017
    By StarJournal
  • Viewpoint

    A community stewardship

    September 26, 2018
    By StarJournal
  • Viewpoint

    Publisher’s Letter

    January 11, 2019
    By StarJournal
  • Viewpoint

    Saying Goodbye

    May 13, 2019
    By StarJournal
  • Viewpoint

    Aging or the Art of Aging

    November 7, 2019
    By StarJournal
  • Viewpoint

    Publisher’s Letter: Beyond Hearing

    September 8, 2020
    By StarJournal

Leave a reply Cancel reply

You must be logged in to post a comment.

About Us


Star Journal is published by Multi Media Channels LLC, N2919 County Road QQ Waupaca, WI 54981.

  • Contact Us
  • Hodag Star Journal E-Edition
  • Subscribe
Copyright © 2020 Multi Media Channels LLC.
All Rights Reserved. No part of this publication or any of its contents may be reproduced, copied, modified or adapted without the prior written consent of Multi Media Channels LLC.
×