Eugene Register-Guard sold to GateHouse Media

feedback.pdxradio.com forums feedback.pdxradio.com forums Politics and other things Eugene Register-Guard sold to GateHouse Media

This topic contains 3 replies, has 2 voices, and was last updated by  paulwalker 1 year, 10 months ago.

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  • #34356

    lastday
    Participant

    The beginning of the end for the R-G. This simultaneously sucks and blows.

    Eugene Register-Guard sold to GateHouse Media

    http://registerguard.com/rg/news/local/36377405-75/the-register-guard-sold-to-gatehouse-media.html.csp?utm_source=afternoon&utm_medium=email&utm_campaign=afternoon_20180125&utm_content=tease

    For the nine months ended Sept. 24, 2017, [GateHouse Media] had revenues of $947 million, up from $921 million in the comparable period in the preceding fiscal year.

    The company reported a loss of $27 million for the nine months up to Sept. 24, compared to a profit of $17 million in the comparable period in the preceding fiscal year.

    The company has borrowed heavily to finance its newspaper purchases. It reported $356 million in long-term debt as of Sept. 24, up from $338 million 12 months earlier.

    #34357

    paulwalker
    Participant

    I certainly have no inside info, but most purchases like this tend to result in massive layoffs, more on-line presence, and a reduction in actual “printed” editions.

    The RG has a long and glorious history. I’m afraid that has just ended. Sad day for Lane County.

    #34358

    lastday
    Participant

    New York-based GateHouse Media has a rather colorful history of bankruptcy, name changes, and their stock being delisted. I bet they’ll be a pleasure for Eugene employees to work for.

    https://en.m.wikipedia.org/wiki/GateHouse_Media

    #34365

    paulwalker
    Participant

    I come from a background of newspaper heritage, and the whole newspaper scene is bleak.

    I live in the Tri-Cities, and frankly the only time I read the local paper is when I get my Toyota serviced. That takes up about 4 and a half minutes!

    These companies can compete on-line, but not by charging customers. They need to get their revenue from ads, not subscribers, because for the most part potential subscribers will not pay for this service when they can get their news for free from many other sources. Both nationally and local.

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