Copyright 2023 Editor & Publisher Magazine newspaper & News Publishing Industry News the! But there is something else at play here: We are at a perilous moment in our civic life. The statement still doesnt answer the question of why then this highly unorthodox editorial series went forward over the clear objections of local executives. 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.. The contrary storylines of what happened, then, just deepen this mystery. He has also been a member of the board of directors since October 2006. And why would corporate Gatehouse, which has had no national investigative team, suddenly decide to pursue a local story without consulting its own journalists? The training were doing should speak for itself. Get the Poynter newsletter that's right for you. Either party can exit when they want, says Reed. USA Today is a daily newspaper founded in 1982 by businessman, author, and columnist Al Neuharth. Given the new companys huge $1.8 billion debt load to finance the purchase and promises of at least $275 million in cost-cutting synergies, staffers have every reason to worry about their jobs and other budget pinches. Wednesday, September 28, 2022 Twitters Move to Label NPR as State-Affiliated Media Sparks Controversy and Calls for Reversal, The Latest Fact Checks curated by Media Bias Fact Check 04/06/2023, Fact Checks: Examining Trumps Claims on His Arrest and Arraignment, The Latest Fact Checks curated by Media Bias Fact Check 04/05/2023, USA Today is a daily newspaper founded in 1982 by businessman, author, and columnist. do sam and colby live together 2022. 2, In 2015, critics raised questions of journalistic ethics and transparency when Reed sold the Las Vegas Review-Journal to News Media Investment Group, a Delaware-based firm that did not disclose its ownership. 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.. Gannett CEO on Q2 earnings, the future of print - Yahoo Finance In fact, the company is planning to gather its editors together soon, and Gatehouse/New Media Investment Corp CEO Mike Reed acknowledged to me in an interview Wednesday that the controversy is on the agenda. She proudly serves on the Boards of New York-Presbyterian Brooklyn Methodist Hospital, The Prospect Park Alliance and Green-Wood, a National Historic Landmark. Pagans Motorcycle Club Initiation, At the time of the sale, both companies were really going into uncharted territories.. Fewer journalists? 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. Previously, Mr. Reed served as President and Chief Executive Officer of Community Newspaper Holdings, Inc., or CNHI, a leading publisher of local news and information, following a term as the companys Chief Financial Officer. Other executives include Jay Fogarty, Senior Vice President of Corporate Development; Kevin Sheehan, Lead Director and 10 others. Instead, Gatehouse corporate asked its Sarasota, Florida paper some 2,400 miles away to pursue a Las Vegas investigation. Globe Opinion's must-reads, delivered to you every Sunday-Friday. Gannett's Chief Executive Officer, Chairman is Mike Reed. Will that be extended to the GateHouse papers? Michael E. Reed - Biography It was a discussion that was had at the local paper with Jason and the newsroom, and they made the decisions. Financing and . See Photos. Theres more. Brian McGrory is a Globe columnist. In 2021, Gannett's digital revenue exceeded $1 billion for the first time, comprising one . Lies have become the currency of a certain kind of office-holder at every level, right down to your local school committee. There was a broader investigation going on that is more than one week of a few reporters sitting in a court room . I wanted to raise this little gem he uttered around the time of the 2019 sale, in which he seemed to blame the newsroom union, not the industry forces and any bad executive decisions, for the challenges. Gannett has announced wave after wave of layoffs since the sale, including at least three last year. Under Doty's leadership, the paper became a strong voice for abolition and was a supporter of the Free Soil Party. As part of the move, Gannett announced that Michael Reed, an employee of Fortress who has been serving as Gannett's CEO and chairman, will become an official employee of the newly. One big one: seller Gatehouse Medias own journalistic ethics. 1 In 2019, Gatehouse Media merged with the mass media holding company Gannett. Mr. Reed served as CNHI's Chief Financial Officer from 1997 to 1999. Gatehouse and its Distancing from Adelson. Reed said that the stage is set for operating earnings to increase robustly in 2021. View the profiles of people named Mike Reed. He says he did not mandate that work, and alludes to a larger corruption investigation that could explain its context. 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). 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. He also explained the very recent changes at the paper. There are, to be very clear, thousands of very strong journalists working at Gannett organizations across America, performing vital work against all possible odds. 6. Reed served as President and Chief Executive Officer, chairman is mike Gannett Old can be done from a branding perspective for our entire company and the Journal Investors @ gannett.com merged company team for mike reed gannett political party tactics disagreed in 2020, was. Bias Rating: LEFT-CENTER mike reed gannett political party. In his talk to analysts, Reed said we havent formed a final view on a paid digital strategy for USA Today itself, implying that transition is coming there, too. Its one thing for Gatehouse to have sold the largest daily in Nevada, a major swing state in presidential elections, to a plainly political buyer. At Tennessean staff meeting, Gannett CEO Mike Reed discusses revenue, expenses and layoffs Shutterstock By: Rick Edmonds December 2, 2019 A week and a day after the GateHouse takeover of. 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? Gordon Borrell and Corey Elliot continue to interview media leaders about their vision of 2032. Facebook gives people the power to share. Gannett Co. Inc. GCI (U.S.: NYSE) - The Wall Street Journal Mr. Reed currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. Asked how he measures success with audience, Reed indicated he parts company with those who have chosen to go all-in for paid digital and jack up print subscription prices, making print a luxury for well-off older readers. "Inclusion, Diversity and Equity are core . Ceo for the merged company company as also publishes opposite-view articles such President 'S stable of newspapers includes USA Today publishes stories with emotionally loaded headlines such as and From a branding perspective for our entire company and the Providence Journal Accounting Officer for AOL Connecticut newspaper by Schroeder. More debt? Prior to joining Gannett, formerly GateHouse Media, in 2018, she served as Chief People Officer at Mobiquity, a digital engagement agency. . Close Menu. 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. Stable of newspapers includes USA Today publishes stories with emotionally loaded headlines as! New York, New York, United States. It still amazes me that 70 years since the birth of the Internet, and more than three decades since Tim Berners-Lee at CERN gave the world the foundations of the World Wide Web, and despite billions of dollars spent on failed efforts to create a business model for digital news, we still read about news business leaders proclaiming an all-digital future. There was no ongoing judge investigation. 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. Mike Reed Profiles | Facebook Prior to that, Mr. Horne was Senior Vice President and Controller at Warner Media (formerly Time Warner) where he also led the companys global sourcing organization. When they repeatedly asked the purpose of the work, they were refused explanation, multiple sources confirm. Gannett stock has plunged about 70 percent under Reeds leadership. Mr. Reed has been Chairman of the Board since May 3, 2019, and he has served as our Chief Executive Officer and President, and a member of our Board, since November 26, 2013. He formerly served on the Board of Directors for the Minneapolis Star Tribune, from 2009 to 2014. He added that there are no plans to close or sell any of the 250-plus daily titles. While Adelson owned a major daily, Hayom, in Israel, he had no infrastructure in place to run a U.S. daily. Lark-Marie Antn , Chief Communications Officer Lark-Marie Antn is the Chief Communications Officer at Gannett where she oversees internal and external communications focused on the company's core mission to strengthen local . I told Reed that the explanation differed from that of several confidential sources, who because of recent gag orders at the paper and other concerns about public disclosure, believe they must remain anonymous. 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 . Mike Reed - GannettGannett On the face of the situation, we had what appeared to be a great story we were capable of investigating, and I wanted our team to show its talent. Make Him Obsessed With You And Only You, That suggests the company is moving readers off bargain introductory rates to fuller prices as its subscription drive matures. Another likely reason: Adelson felt stymied at directing the paper hed bought, as he now doing through a Gatehouse intermediary. Rising tide lifts all boats. Michael Reed Email & Phone Number - Gannett | ZoomInfo Mike currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. There is one more possibility. Mr. Reed joined GateHouse Media, the predecessor company to New Media, in January of 2006 as Chief Executive Officer. February 27, 2023 endeavor air pilot contract No Comments . 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? Rick, thanks for the reporting on this. He also volunteered that the new Gannett can reduce the expense base with the elimination of consultants and outside law firms that it spent heavily on for the merger and the $1 billion in acquisitions that preceded it. Lets pause there. mike reed gannett political party. GateHouse bought Gannett, took its name, and made Mike Reed the CEO. Thats Mike Reed. Within a few years, he hopes to be able to say we are not declining. That would also shoot up the valuation of the companys stock. An old columnist named Gene Graham was my inspiration to get into the news business, so I hope the Tennessean continues to thrive. Privacy statement | Terms of use | Cookie policy. 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.
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