GateHouse Media Inc. was an American publisher of locally based print and digital media. It published 144 daily newspapers, 684 community publications, and over 569 local-market websites in 38 states. Its parent company, New Media Investment Group, acquired
Gannett
Gannett Co., Inc. () is an American mass media holding company headquartered in McLean, Virginia, in the Washington, D.C., metropolitan area.Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. Headquartered in Downers Grove, Illinois, Liberty then expanded the network increasing the total newspapers to 330 by 2000. Faced with problems, it downsized to 270 by June 2005.
GateHouse Media
In June 2005, Fortress Investment Group bought Liberty for $527 million. Fortress expanded it to 75 dailies, 231 weeklies, 117 shoppers, and 230 websites. It was renamed GateHouse and its headquarters moved to suburban
Rochester, New York
Rochester () is a City (New York), city in the U.S. state of New York (state), New York, the county seat, seat of Monroe County, New York, Monroe County, and the fourth-most populous in the state after New York City, Buffalo, New York, Buffalo, ...
, in April 2006. In October 2006, GateHouse had its
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
with Fortress maintaining 60% ownership.GateHouse Media stock being delisted from NYSE - October 22, 2008 On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications.
The company received notification from the New York Stock Exchange (NYSE) on August 21, 2008, that it had fallen below the NYSE's continued listing standards for average global market capitalization over a consecutive 30-trading-day period of not less than $75 million and $1.00 average closing price, and had submitted a business plan to the NYSE Regulation for coming back into compliance for continued listing. The company has been in communication with the NYSE regarding its noncompliance with continued listing standards, but was unsuccessful in its efforts to avoid suspension and delisting.
Bankruptcy, bailout and restructuring
On September 4, 2013,
News Corp
News Corporation, stylized as News Corp, is an American mass media and publishing company headquartered in Midtown Manhattan, New York City. The second incarnation of the News Corporation (1980–2013), original News Corporation, it was formed ...
announced that it would sell the Dow Jones Local Media Group, a group of 33 local newspapers, to Newcastle Investment Corp, an affiliate of Fortress, for $87 million. The newspapers were operated by GateHouse Media following the purchase. CEO Robert James Thomson indicated that the newspapers "were not strategically consistent with the emerging portfolio" of the company, which had been formed as a spin-off of News Corporation.
By 2013, GateHouse Media grew, operating in 330 markets across 21 states, but they found themselves in a debt situation that would prohibit future growth. The company filed for
Chapter 11 bankruptcy
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...
in U.S. Bankruptcy Court in Wilmington, Delaware on September 27, 2013. It listed assets of $433.7 million and debt of $1.3 billion. The planned bankruptcy centered on restructuring the Fortress News Corp deal. Fortress owned 52% of GateHouse debt. Gatehouse re-emerged from the planned bankruptcy in November 2013. In the restructured plan, Gatehouse stock was cancelled and a new holding company for the parent, New Media Investment Group, Inc., was formed. The terms involved the cancellation of shares of Gatehouse, but those owners receiving
warrants
Warrant may refer to:
* Warrant (law), a form of specific authorization
** Arrest warrant, authorizing the arrest and detention of an individual
** Search warrant, a court order issued that authorizes law enforcement to conduct a search for eviden ...
to buy shares in New Media Investment Group Inc.
Subsequently, Gatehouse Media acquired several newspaper groups between 2014 and 2017, including Halifax, Stephens Media, Calkins Media and Morris Publications. They also acquired Dolan Media Group and Journal Multimedia, adding business publications to their portfolio. The combined group of business publications was rebranded as BridgeTower Media.
The GateHouse Media corporate strategy continues to focus on acquiring and operating traditional local media businesses and transforming them from print-centric operations to multimedia operations. As of April 2018, GateHouse Media was publishing 144 daily newspapers, 684 community publications, and over 569 local market websites in 38 states.
Recent acquisitions
In January 2015, GateHouse purchased the 36 newspapers of the Halifax Media Group for $280 million. In February 2015, GateHouse purchased
Stephens Media
Stephens Media LLC was a Las Vegas, Nevada, diversified media investment company. It owned stakes in the California Newspapers Partnership and the ''Northwest Arkansas Democrat Gazette''.
The company had been expanding its interactive Internet b ...
, which published newspapers mainly in Arkansas and Nevada, for $102.8 million. In December 2015, GateHouse sold the ''
Las Vegas Review-Journal
The ''Las Vegas Review-Journal'' is a daily subscription newspaper published in Las Vegas, Nevada, since 1909. It is the largest circulating daily newspaper in Nevada and one of two daily newspapers in the Las Vegas area.
The ''Review-Journal'' ...
'', the Stephens group's largest paper, to casino magnate Sheldon Adelson for $140 million.
In November 2016, GateHouse announced the purchase of Harris Enterprises, based in Hutchinson, Kan., which operated six daily newspapers in Kansas and Iowa. In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. Dix Communications operates in northeastern and east-central Ohio, including more than 30 daily and weekly newspapers. In June 2017, GateHouse announced it was purchasing Calkins Media Group's four six-day-a-week newspapers and Calkins Digital Group, a press facility and related websites and other digital operations.
In August 2017, GateHouse announced it was purchasing 11 daily newspapers, 30 weeklies, and other assets from Morris Publishing Group, a division of Morris Communications.
In October 2017, GateHouse acquired Edward A. Sherman Publishing Company, parent of ''
The Newport Daily News
''The Newport Daily News'' is a six-day daily newspaper serving Newport County, Rhode Island. It publishes in the mornings on weekdays (Monday through Friday) and in the morning on Saturdays. The ''Daily News'' was the state's largest family-owne ...
''.
In January 2018, GateHouse announced its purchase of Oregon's second-largest daily newspaper, ''
The Register-Guard
''The Register-Guard'' is a daily newspaper in the northwestern United States, published in Eugene, Oregon. It was formed in a 1930 merger of two Eugene papers, the ''Eugene Daily Guard'' and the ''Morning Register''. The paper serves the Eugene- ...
''.
In February 2018, GateHouse announced the acquisition of Kirk Davis's independently owned Holden Landmark Corporation for an undisclosed sum. The sale includes the central Massachusetts media properties, ''
Worcester Magazine
''Worcester Magazine'' is a weekly free alternative media magazine in Worcester, Massachusetts. Established in 1976, the magazine is distributed at more than 400 locations across Central Massachusetts. It is published weekly on Thursdays. Business ...
'', ''The Landmark, baystateparent Magazine, Leominster Champion, Millbury-Sutton Chronicle'', and the ''Grafton News''.
In March 2018, GateHouse announced its $47.5 million purchase of the ''
Austin American-Statesman
The ''Austin American-Statesman'' is the major daily newspaper for Austin, the capital city of Texas. It is owned by Gannett.
The paper prints Associated Press, ''New York Times'', ''The Washington Post'', and ''Los Angeles Times'' internation ...
'' of
Austin
Austin is the capital city of the U.S. state of Texas, as well as the seat and largest city of Travis County, with portions extending into Hays and Williamson counties. Incorporated on December 27, 1839, it is the 11th-most-populous city ...
,
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2 ...
. It is the largest newspaper in Central Texas. In the same month, GateHouse announced its $49.25 million purchase o ''The Palm Beach Post'' and ''Palm Beach Daily News'' from Cox Media Group, LLC.
On April 10, 2018, GateHouse announced that it had agreed to acquire the ''
Akron Beacon Journal
The ''Akron Beacon Journal'' is a morning newspaper in Akron, Ohio, United States. Owned by Gannett, it is the sole daily newspaper in Akron and is distributed throughout Northeast Ohio. The paper's coverage focuses on local news. The Beacon J ...
Ohio
Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...
for $16 million from Black Press Group. The ''Beacon Journal'' is a daily newspaper tracing its storied,
Pulitzer Prize
The Pulitzer Prize () is an award for achievements in newspaper, magazine, online journalism, literature, and musical composition within the United States. It was established in 1917 by provisions in the will of Joseph Pulitzer, who had made h ...
-winning history to 1839's ''Summit Beacon'', which early in the 20th century came under the editorship and ownership of publisher Charles Landon Knight, serving as the flagship newspaper of the Knight Newspaper Company, later known as
Knight Ridder
Knight Ridder was an American media company, specializing in newspaper and Internet publishing. Until it was bought by McClatchy on June 27, 2006, it was the second largest newspaper publisher in the United States, with 32 daily newspaper brand ...
.
On July 2, 2018, GateHouse acquired SouthernKitchen.com, the Atlanta-based Southern food and lifestyle brand. Southern Kitchen, launched by Cox Media Group (CMG) in 2017, is a blend of e-commerce and content. It delivers content and products related to eating, drinking, and entertaining with a Southern flair.
On September 27, 2018, GateHouse Media announced the acquisition of The Oklahoman Media Company, parent company of
The Oklahoman
''The Oklahoman'' is the largest daily newspaper in Oklahoma, United States, and is the only regional daily that covers the Greater Oklahoma City area. The Alliance for Audited Media (formerly Audit Bureau Circulation) lists it as the 59th larges ...
, which is the state's largest daily newspaper, for an undisclosed amount from The Anschutz Corp. The sale closed on Oct. 1, 2018, for $12.5 million.
On January 28, 2019, it was announced that GateHouse Media had acquired the publishing division of Schurz Communications including '' The Herald-Times'' in
Bloomington, Indiana
Bloomington is a city in and the county seat of Monroe County, Indiana, Monroe County in the central region of the U.S. state of Indiana. It is the List of municipalities in Indiana, seventh-largest city in Indiana and the fourth-largest outside ...
, ''
South Bend Tribune
The ''South Bend Tribune'' is a daily newspaper and news website which is based in South Bend, Indiana. It is distributed in South Bend, Mishawaka, north central Indiana, and southwestern Michigan. It has been named as a "Blue Ribbon Newspaper" ...
'' in
South Bend, Indiana
South Bend is a city in and the county seat of St. Joseph County, Indiana, St. Joseph County, Indiana, on the St. Joseph River (Lake Michigan), St. Joseph River near its southernmost bend, from which it derives its name. As of the 2020 United S ...
, and other papers in Clay, Lawrence, Monroe, Morgan, Orange, Owen, and Putnam counties in Indiana. That same year, it acquired the ''
New Jersey Herald
The ''New Jersey Herald'' is a newspaper published six days (Sunday-Friday) every week. Its headquarters are in Newton, New Jersey. It is the only daily newspaper published in Sussex County, New Jersey and one of the oldest in the state. It has a ...
'' in
Newton, New Jersey
Newton, officially the ''Town of Newton'', is an incorporated municipality located in Sussex County, in the U.S. state of New Jersey. It is situated approximately by road northwest of New York City. As the location of the county's administrati ...
In August 2019, it was announced that New Media Investment Group had reached an agreement to merge
Gannett
Gannett Co., Inc. () is an American mass media holding company headquartered in McLean, Virginia, in the Washington, D.C., metropolitan area.McLean, Virginia
McLean ( ) is an unincorporated community and census-designated place (CDP) in Fairfax County in Northern Virginia. McLean is home to many diplomats, military, members of Congress, and high-ranking government officials partially due to its proxim ...
. The acquisition of Gannett by New Media Investment Group was completed on November 19, 2019, making the combined company the largest newspaper publisher in the United States.
Gatehouse, now called Gannett, has been operated by Fortress Investments, a New York private equity firm, in turn owned by Softbank, the diversified Japanese tech firm.
As of early 2022, Gannett was seeking an early buyout of Fortress's outside management role.