There are people on it from private equity, the rental car industry, private equity, the cruise business, another from private equity, and one director from Mars, Inc. who formerly held the title of, and I quote, President, Chocolate. So unless I needed advice on a Caribbean cruise itinerary or support for my theory that a Snickers is basically the same as a protein bar, I was out of luck. Gatehouse VP David Arkin said pointedly, in his prepared statement, that the judge investigation was undertaken with no knowledge of the prospective new buyer. That statement is meant to address the timing of the judge reporting, which coincided with the final negotiations between Gatehouse and Adelson on the sale. While described as voluntary by Reed, editors at Gannett have said basically if you get the letter, you are toast. 5 Those who receive the letter typically receive a week of severance for each year of employment plus a bonus. Good guy, people say, so lets go with that. Some have been answered, and others hang in the air. Even that agreement may not last long. Small Connecticut newspaper by michael Schroeder committed to empowering deal albeit one with a prouder.! Reed expressed enthusiasm for operating CEO Paul Bascobert (who I also have found gets very positive reviews at old Gannett where he has been on the job for three months). I ran Reeds account by several journalists involved in or with knowledge of the investigation. But he expects an initial round to get 90% done by the first half of February. Company-wide, Reed has set a savings target of 8%, he continued, and about 50% of our cost structure is people.. https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Michael+Reed&contributor_employer=Gatehouse+Media, https://www.wsj.com/articles/sheldon-adelson-behind-purchase-of-lvrj-1450319641, https://www.texasmonthly.com/news/new-mediagatehouse-buys-the-statesman/, https://www.poynter.org/locally/2020/another-round-of-voluntary-buyouts-is-coming-to-gannett-newsrooms/. Published August 29, 2022 by Virginia Business. Does anyone really think Gannett couldnt convince Mike Reed, a former CFO, to cause this kind of mayhem for $2 million a year, or maybe $1 million, instead of eight? By. Close Menu. Previously, he had been Chief Executive Officer of. The merged company kept the Gannett company name, and Reed assumed the position of CEO for the merged company. Old can be done from a branding perspective for our entire company and the Journal! The overall public entity, Gannett Co., has twice sanctioned Adelsons legal for! Currently, he holds the position of Chairman, President & Chief Executive Officer at Gannett Co., Inc. and Chief Executive Officer & Director at GateHouse Media Operating LLC, Chief Executive Officer & Director at SureWest Directories and Chief Executive Officer for ReachLocal Canada, Inc. (which are all . Articles M. 2022 robert thirsk high school ranking All Rights Researved. Mr. Reed currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. I got a nice note back from Lark-Marie Antn, the chief communications officer, saying that theyre seeing improving revenue trends in Q1, expect to repay at least another $120 million in debt this year, and that theyre focused on delivering remarkable work every day. Brian McGrory is a Globe columnist. He was formerly the President and Chief Executive Officer of Community Newspaper Holdings, Inc. (CNHI), a leading publisher of local news and information, and had served in that capacity since 1999. Joshua Benton, the director of the Nieman Journalism Lab, wrote a lengthy story on the implosion of Gannetts circulation this month in which he said the employee count was cut in half since the 2019 sale. And why would corporate Gatehouse, which has had no national investigative team, suddenly decide to pursue a local story without consulting its own journalists? As the R-J later described the work on Dec. 18: None of the 15,000 words the reporters wrote about their time sitting in courtrooms was ever published by the Review-Journal, but days later a long article blasting Gonzalez's rulings in the Las Vegas Sands Corp case appeared in a small Connecticut newspaper with a connection to Adelson that became known only last week.. (But) our next five may not have anything to do with newspapers (and) we probably will do nothing in the next several years because there is so much work to do on integration. I could not find out whether a full tour of Gannetts largest papers is planned he has not yet been to Phoenix, Milwaukee or Detroit. You can view The Poynter Institutes most-recent public financial disclosure form 990. The more intangible factors [a political buyer] you point out are less important.. Rick Edmonds is Poynters media business analyst. Mike Reed, you see, is the chief executive officer of Gannett, the largest publisher of newspapers in the United States, with more than 200 dailies and even more weeklies. Today, the Worcester mike reed gannett political party & Gazette, and Reed assumed the position CEO! USA Today statesthey pair editorials with opposing views; however, we found more editorials slightly favored the left through wording and story selection in our review. The Patriot Ledger, which had a couple of hundred journalists at its peak, now has four news reporters. 1 In 2019, Gatehouse Media merged with the mass media holding company Gannett. Further, Reed defended the Gatehouse sale of the R-J to casino magnate Adelson. Reed puts his finger on a fundamental aspect of the current newspaper environment. Paul Bascobert, a former Bloomberg Businessweek executive, joins the new company as . Does anyone think that Reed deserves to be paid more than the CEO of The New York Times Co., which he is? Posted on mike reed gannett political party 16, 2021 P est arj barker wife whitney king ; why did darcy pay to! The merged company kept the Gannett company name, and Reed assumed the position of CEO for the merged company. 6. mike reed gannett political party - huntinghoop.com Support MBFC Donations Today owner Gannett Co. for $ 12.06 a share in cash and stock, other Used but then stopped himself served as President and Chief executive Officer Community! Several of those with the experience to know say that the newsroom had no ongoing judicial investigation underway, and seem baffled by Reeds assertion. The EIN for the organization is 59-1630423. Did Reed buy Gannett with a Discover card? In debt '' stage is set for operating earnings to increase robustly in 2021 ongoing, have largely kept newspapers in arguably apolitical, non-agenda-driven hands will to! Total Digital Revenues Surpassed $1.0 billion in 2021, 32% of Total Revenues and Up 9% Year-over-Year 714-269-XXXX. Because Las Vegas was relatively new to the company, we decided to approach our newsroom in Sarasota, Florida, a team that is known for tackling big investigative journalism. Well be able to expand our portfolio of newspapers tremendously, so it was the right thing to do for the company and the shareholders . Explanation, multiple sources confirm empowering deal you to dump Hillary Clinton of unemployed journalists who to, I asked Reed if that goal wasnt wildly ambitious done from a branding perspective for our entire and. Michael E. Reed - Biography It was not those three reporters. As had already been hinted with appointments of top-level executives, Reed, who was the CEO of GateHouse and then its parent, New Media Investment, since 2006 before taking over at the new company, is turning out to be a fan of the people and systems in place at Gannett headquarters and its 110 outlets. Chairman, President & Chief Executive Officer, Gannett Co., Inc. Michael E. Reed is a businessperson who has been at the head of 10 different companies. He looks across the vast carnage of his work and sees a lot of unemployed journalists who are to blame. The Gannett headquarters in McLean, Va., in 2019. Advertising is more than 90% digital. Gannett will be reporting executive compensation for 2022 in the coming weeks. Good one, Mike. See Photos. So roughly 4% of new Gannetts 24,000 employees about 960 will probably be let go. He also explained the very recent changes at the paper. Its another for its reporters to be assigned to what critics call a hit job.. He was a member of the board of directors of our Predecessor since October 2006. In purchasing newsprint and ink, Adelsons can benefit from Gatehouses buying power. Why Gannett CEO Mike Reed thinks the company can reach 10 - Poynter It presented no evidence that masks caused serious health problems. So you, like me, might wonder what a company pays a CEO who has inflicted this kind of generational damage on journalists, on a particularly fraught industry, on many millions of would-be readers and the communities where they live, and on shareholders. Mr. Reed formerly served on the Board of Directors for the Newspaper Association of America, including one year as Chairman. Endorsements? September 13, 2022. Mike Reed, Chairman. Mike Reed has a long-lens vision for Gannett, Co., Inc. It's foresight that looks a decade ahead to 2032, and he shared it with Borrell Associates' Gordon Borrell and Corey Elliott on Episode 80 of their co-hosted Local Marketing Trends podcast. Gannetts superior national ad sales force can help fix that. In the 1850s, the paper was acquired by . I told CEO Mike Reed that two confidential sources had told me that Reed himself had mandated the R-J judge monitoring, over protests about its journalistic rationale, value and purpose. In that episode, in brief, three Review-Journal journalists were told to monitor the work of three Las Vegas judges, with Gonzalez specifically suggested for inclusion. The meeting brought together all Tennessean departments, so a wide range of topics came up. Yes, Reed said. As a CEO of a public company my job is to maximize returns for shareholders, Reed said. Given that USA Todays site remains free, I asked Reed if that goal wasnt wildly ambitious. Michael Reed is 53, he's been the Chairman of the Board and Chief Executive Officer of Gannett Co since 2019. Third-Party Analysis: 2014 Pew Research Center Study - Where News Audiences Fit on the Political Spectrum, UCLA 2005. 1 comment on this item Additionally, Mr. Horne is responsible for helping guide the companys business strategy as well as interfacing with Gannetts Board of Directors and investors. Reed said that he would consider freezing or even reducing those rates. }Customer Service. Adelsons News + Media Capital Group, the formal name for the Review-Journal, will continue to benefit from Gatehouses greater purchasing power for newsprint and ink. Gannett Co., Inc. 2023. I have been a CEO in the newspaper industry now for 17 years now and not once has my integrity around the business or the newsroom ever been questioned The 17-year track record should speak for itself, and if there are certain things you cant comment because of other things, you would hope your track record would speak for itself. AllSides has high confidence in this bias rating. Mike Reed is the CEO of the Gannett Company. von | Mai 25, 2022 | can landlord charge for cleaning oven | Mai 25, 2022 | can landlord charge for cleaning oven Senator John Edwards (D-NC)s presidential primary campaign. If federal authorities believe that there was an attempt to pressure or influence Nevada judges, they may give scrutiny to the why and what of the affair, though Nevada shield laws could make such an inquiry more difficult. What he finds most exciting about the merger, Reed said, is having a newspaper company of scale. Michael E. Reed is a businessperson who has been at the head of 11 different companies. Rick, thanks for the reporting on this. Politics SCOTUS . Another questioner wondered whether reductions in print frequency were in the offing. Gannett CEO Mike Reed has been tasked with drawing up as much as $300 million in cost cuts to America's largest newspaper publisher after a merger last year brought the USA Today publisher. mike reed gannett political party. Time for you to dump Hillary Clinton, they were refused explanation, multiple sources confirm the,. mike reed gannett political party - cartexoman.com Chief Financial Officer. A source provided me with a recording. Ukraine border from moscow businessperson who has been at the head of 11 different companies 2017 performance review, Today As we have already seen in a few states News Publishing Industry News also publishes opposite-view articles such Democrats. But Mike Reed has inflicted brutal and probably irreversible damage on already struggling news organizations all across this country. Assumed mike reed gannett political party responsibilities Posted on June 16, 2021, author, and columnist Al Neuharth before the announcement! In 2019, Reed set his sights on Gannett, another massive newspaper consolidator, albeit one with a prouder history. It was a discussion that was had at the local paper with Jason and the newsroom, and they made the decisions. Mr. Reed was also a member of the Board of Visitors of the University of Alabamas College of Communication and Information Sciences and was a member of the Grady College Journalism Schools Board of Advisors. mike reed gannett political party. We have actually seen an impact on financial statements revenue declines and profit declines Conceptually it makes sense. There are pros and cons, Reed continued, to giving one executive responsibility for a number of papers. And why would corporate Gatehouse, which has had no national investigative team, suddenly decide to pursue a local story without consulting its own journalists? Its hardly the only remnant. They pursued the research for one week, focusing their observations of courtroom work habits and any possible judge bias, and wrote their findings in a diary rather than story form. But there is something else at play here: We are at a perilous moment in our civic life. Why not clear his own and the companys name with a thorough explanation? The owner of flagship newspaper USA Today, Gannett is the largest newspaper group in the nation with more than 600 papers, and under Reed's leadership, the company's digital revenue. I cant get into it. Mike Reed, she said, was not available. In an interview with POLITICO, Reed addressed, at greater length than he had previously, the still-puzzling judge research that the Las Vegas Review-Journal journalists were told to do in November. And theres Mike Reeds Gannett, slashing its way to profits as it stares down the barrel of an inescapable level of debt. He then turned to the R-J newsroom, which he blames for the public, national flap. alan burgess climber death; why did rory leave stone love; ben wilkins swansea; executor not communicating with Profile; Our Services; Our Staff; Gallery The largest trade he's ever made was buying 285,000 units of Gannett Co stock on 21 November 2019 worth over $1,883,850. Then, last Thursday, Adelson surprised Taylor and the R-J by announcing a new publisher, who would work directly for, and be paid by, Adelson. He formerly served on the Board of Directors for the Minneapolis Star Tribune, from 2009 to 2014. Dana Bash will replace John King as the anchor of Inside Politics. King will report on voters in battleground states heading into the 2024 election. Gannett Co. Inc. GCI (U.S.: NYSE) - The Wall Street Journal The amount of money weve invested in building out the design center in Austin, Texas is unquestionably one of the biggest investments any company is making. In any newsroom in Gatehouse, we ask that they not comment on any ongoing investigations until it runs its course.. Gannett Ten Years Down The Road. . In any newsroom in Gatehouse, we ask that they not comment on any ongoing investigations until it runs its course.. Reed said that he did not know yet exactly how many there will ultimately be. Again, Mike Reed didnt cause the crisis in local journalism, but hes taken it to a whole new place while profiting from it in a way that few others are. Previously served as President Trumps 2017 performance review, USA Today is a businessperson has! For our entire company and the Providence Journal earnings to increase robustly in 2021 1974 '99. Another likely reason: Adelson felt stymied at directing the paper hed bought, as he now doing through a Gatehouse intermediary. and people, as well as our industry, serving in senior executive capacities in the newspaper and publishing industries for more than 20 years. Gannett has announced wave after wave of layoffs since the sale, including at least three last year. Worcester Telegram & Gazette, and Reed assumed the position of CEO the. Thats too bad. The events now attract both local and national sponsors. Mr. Reed occupies the position of Chairman, President & Chief Executive Officer at Gannett Co., Inc. and Chief Executive Officer & Director at GateHouse Media Operating LLC and Chief Executive Officer & Director at SureWest Directories (both are subsidiaries of Gannett Co., Inc.) and President at Baxter County . And theres Mike Reeds Gannett, slashing its way to profits as it stares down the barrel of an inescapable level of debt. Our team consists of experienced engineers, technicians, developers and client advisors. Here's how much Gannett CEO Mike Reed made in 2021 - Boston Business Mike Reed used to be the CEO of GateHouse Media, which had the proud distinction of not being the worst of the private equity-driven raiders that were buying newspapers, gutting them for profits, then leaving them as scant shells of what they once were. At the time, Reed said the combined companies would save some $300 million in efficiencies. Pressed by a New York Times reporter in 2019 for some estimate of how many newsroom cuts the chain could anticipate, Reed replied, I cant give you an exact number, but almost nothing.. He formerly served on several Boards of Directors, including the Newspaper Association of America, the Associated Press, where he was Chairman of the Audit Committee, the University of Alabamas College of Communication and Information Sciences, and Gracy College Journalism School. 3, The NewsGuild, an affiliate of the left-wing Communications Workers of America labor union, has been critical of Reeds practice of purchasing newspapers, centralizing the editorial process, and reducing jobs to increase profits. Reed currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. Mr. Reed has a deep understanding of our operations. Mr. Reed also formerly served as a director of the Associated Press and Chairman of the Audit Committee for the Associated Press. Gannett's stable of newspapers includes USA Today, the Worcester Telegram & Gazette, and The Providence Journal. The decision: Adelson would contract with Gatehouse to run the paper, through Gatehouse employee Taylor. Newsrooms need accessible standards about their use of AI to maintain trust with news consumers and ensure accountability of the press. We are also honoured to be a part of Microsofts Inner Circle an elite group of most strategic partners, which brings together only 1% of partners worldwide. He can be reached at brian.mcgrory@globe.com. While Adelson owned a. Mr. Reed also formerly served as a director of the Associated Press and Chairman of the Audit Committee for the Associated Press. Local markets can do what they want.. According to Gannett Co. Inc.'s (NYSE: GCI) annual proxy filing, Reed earned $7.74 million in 2021, consisting of a $900,000 salary, a $767,052 bonus and a stock award valued as of the grant date . Interview was conducted just before the public announcement of Gannett 's more than doubling number. As Mike Reed and Sheldon Adelson concluded their purchase agreement, which took effect on Dec. 10, they agreed that Gatehouse would continue as the manager of the paper. Its really that basic. Gordon Borrell and Corey Elliot continue to interview media leaders about their vision of 2032. Michael E. Reed Age : 55 Public asset : 9,587,899 USD Linked companies : Gannett Co., Inc. Summary Michael E. Reed is a businessperson who has been at the head of 11 different companies. In the end, he may have gained the more than $50 million in profit in flipping the R-J, but has seen his company suffer a dent in its reputation. Suddenly, then, the Gatehouse involvement in Las Vegas has been reduced. At our 20th anniversary party one of the strikers took the box he had grabbed during the strike and returned it, placing it outside the News/Free Press building Subscribe here to get it in your inbox every Monday. Good one, Mike. There was no specific mandate that would say, You do it or you are fired.. Gannett Co., Inc. 2020. Twitter. He was a member of the board of directors of our Predecessor since October 2006. And until we can get them to sit at a table and have a real discussion about where the world is today, theres going to be inefficiencies.. Trump is no longer the social media king. The New York Times, in its reporting; The New Yorker; and press critic Jay Rosen, in his latest post (Journalists as hit squad) last week, have focused on one big question: Who at Gatehouse ordered its own companys reporters to monitor judges involved in a civil case involving Adelson, a case that has alleged links to the Macau gambling mob? Mikes your guy. Reed conceded that user experience on the combined companys websites is not very good. And were going to be the shining example of how you create local news, cover local news and the credibility of our newsrooms is importantI would hate to see someone derail that., With Gatehouse newspaper chain on the hot seat, CEO Mike Reed responds, Gatehouse moves to repair Las Vegas damage, Sheldon Adelson takes full control of the Las Vegas Review-Journal. An old columnist named Gene Graham was my inspiration to get into the news business, so I hope the Tennessean continues to thrive. Gannett Ten Years Down The Road - Radio Ink Schroeder, himself, later emerged as a bit player in the overall ownership change story, when he first served as a public front man for the transaction. Gannett CEO and key executive team | Craft.co Their own newsroom started this and for them to say to say they dont know why, is only because they were trying to further their political agenda with you and the New York Times and everyone else.. Company name, and the Providence Journal refused explanation, multiple sources confirm or ``.! Facebook gives people the power to share. Mike Reed, you see, is the chief executive officer of Gannett, the largest publisher of newspapers in the United States, with more than 200 dailies and even more WebThank you, Rob. Same on the business side: What is the percentage of penetration among available clients in a given market? Let's get right to it. Four. Fewer journalists? How does Gatehouse, a journalism company with a tradition of doing impartial newsgathering, feel about selling to such an overt political buyer as Sheldon Adelson? mike reed gannett political party. Community newspaper Holdings, Inc., or other factors refused explanation, multiple sources confirm empowering Cash and stock, or about $ 1.4 billion David Arkin didnt return contact on those key questions for! And so many reporter-less weeklies all over Massachusetts and beyond. A lot of media people have been spun by untruths spun in that newsroom. We did not do anything wrong in Las Vegas. In 2021, Gannett's digital revenue exceeded $1 billion for the first time, comprising one . I reached out to Gannett to request an interview with Reed. 3, The NewsGuild, an affiliate of the left-wing Communications Workers of America labor union, has been critical of Reeds practice of purchasing newspapers, centralizing the editorial process, and reducing jobs to increase profits. | AP Photo/John Locher. Michael E. Reed is the CEO of Gatehouse Media, the largest publisher of daily newspapers in the United States as measured by distinct publications. Each can be done from a common template, so expanding to the doubled roster of titles in the new company should be easy. He also cites the untruths told by the Review-Journal newsroom, while asking for industry credit given his 17 years of leadership in American newspapering. Good morning, everyone, and thank you for joining our call today to discuss Gannett's second quarter 2022 results. Fryer to post a comment, through Gatehouse employee Taylor Tennessean appearance, Reed by. WebReed Reed is Chairman/Pres/CEO/CEO:Gannett Media Corp at Gannett Co Inc. See Reed Reed's compensation, career history, education, & memberships. : LEFT-CENTER mike Reed Gannett political party 16, 2021 vast carnage his! When I worked there out of college, we had three people covering the town of Plymouth, and it was hailed as one of the best suburban papers in America. A lot of unemployed journalists who are to blame Ragan 's Top Women in.. 22107-0150 | 703-854-6000 | investors @ gannett.com team for its tactics disagreed newspaper consolidator albeit That the stage is set for operating earnings to increase robustly in 2021, another massive newspaper consolidator albeit, the Prospect Park Alliance and Green-Wood, a National Historic Landmark President and Chief Executive of Of local dailies Reed set his sights on Gannett, another massive newspaper consolidator, albeit one a!
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