(203) 307-2250 To determine the companies and individuals that own the top news sites in the world, we identified the top owners of the news sites with the most monthly traffic as of December 2019. While a billionaire secretly funding a lawsuit to take down a news outletmay be a new way of using money to influence the media business, billionaires have long exerted influence on the news simply by owning U.S. media outlets. It's also important to point out that the same person with Fox News ownership, Rupert Murdoch, owns News Corp with the same 39% share, and News Corp owns the New York Post, HarperCollins, and the Wall Street Journal. James Cox, the company founder and grandfather of current chairmanJim Kennedy, bought his first newspaper, the Dayton Ohio Evening News, in 1898. In recent years, Gannett has pursued a unified journalism and business strategy through the promotion of the USA TODAY Network, which includes all of its U.S. publications. They are BlackRock, Vanguard and State Street. Today's graphic, created by TitleMax, is a broad look at who owns U.S. news media outlets. Paul Bascobert, newly appointed Chief Executive Officer of Gannett, will become In 2009, Bloomberg LP bought Business Week magazine from McGraw Hill for a reported $5 million plus assumption of debt. Gannett and New Media have each cut costs and made a series of acquisitions in recent years to bolster revenue and gain scale. "We have been working hard on integration planning, and we are now even more confident in our ability to realize the high end of the range in savings and within the 18- to 24-month period we previously stated," he said. New Media and Gannett believe that a digital transformation of the newspaper industry is vital to the preservation of journalism, and the Merger will accelerate the combined companys digital transformation. You may obtain free copies of these documents using the sources indicated above. The Merger will create a leading local and national media company with 263 daily media organizations across 47 states and Guam and USA TODAY, reaching more than 145 million unique visitors every month, as measured by Comscore. Certain statements in this communication may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect New Medias and Gannetts current views regarding, among other things, the proposed transaction between New Media and Gannett, the expected timetable for completing the proposed transaction, the benefits and synergies of the proposed transaction and future opportunities for the combined company, as well as other statements that are other than historical fact. New Media Investment Group, a holding company that controls GateHouse Media, announced that it had agreed to buy Gannett, the owner of USA Today and more than 100 other publications. Under that brand, the company has won several Pulitzer Prizes, expanded its investigative reporting and shared journalism resources. (703) 854-3168 At the same time, Gordon said he has confidence in Reed's leadership of the new company. Analysts are split on whether the company can pull off the savings, which are critical to paying off a $1.8 billion loan that New Media obtained from private equity firm Apollo Global Management to help finance the deal. Gannett will be acquired by New Media Investment Group, which owns Gatehouse. In total they own 666 media sites. Eliminates certain payments otherwise due at or after the end of the term. The buyer is New Media Investment Group, Inc., formerly Gatehouse Media, which is the largest newspaper publisher in the United States by number of titles. For news sites that are owned or controlled by the government, the head of government was listed as the highest-level owner. The news media has a powerful influence over consumer tastes, political opinions, and culture at large. The combined companys Board of Directors will have nine members, including Mr. Reed as Chairman, five independent directors from New Media, and three independent directors from Gannett. Mike Reed, the media veteran who leads GateHouse's parent company, will be CEO of the newly combined company. [1] Despite these restrictions, today Australia has a relatively high degree of media concentration. To identify which companies and CEOs have the most titles and combined readerships, we generated a list of all the URLs for each publication under each respective CEO. Gatehouse re-emerged from the planned bankruptcy in November 2013. Inaddition to USA TODAY, Gannett owns 109 local media properties operated as the USA TODAY Network including the Arizona Republic, Detroit Free Press, Milwaukee Journal Sentinel and Indianapolis Star as well as United Kingdom-based Newsquest Media Group and digital marketing assets like WordStream. Also based in the US are the Newhouse family, who have built a media empire that includes 47 titles, with a combined monthly readership of 1.5 billion. Arbor Advisory Group No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law. State ownership of media in English-speaking countries is dwarfed, however, by the Government of Chinas media holdings.[1]. Some of the top media owners in the U.S. have dominated the news media landscape for over a century, and continue to grow in the era of digital news. The terms involved the cancellation of shares of Gatehouse, but those owners receiving warrants to buy shares in New Media Investment Group Inc.[11][12], Subsequently, Gatehouse Media acquired several newspaper groups between 2014 and 2017, including Halifax,[13] Stephens Media,[14] Calkins Media and Morris Publications. Despite the many differences, the GOP is united in its animosity towards ESG investing. New Medias purchase of Gannett, using a combination of cash and stock, was valued at approximately $1.1 billion as of Mondays market close, according to a regulatory filing with the Securities and Exchange Commission. In a statement at the time, he wrote, I wasnt looking to buy a magazine. In the years since, US News & World Reporthas made a name for itself with its lucrative rankings, includingBest Colleges, Best Graduate School and Best Hospitals lists. Their past, present, and future contributions., Mortimer Zuckerman US News & World Report, New York Daily News. In October 2015, investor Peter Barbey bought the Village Voice, a New York City alternative weekly, through his investment company Black Walnut Holdings LLC for an undisclosed price. Additional Information and Where to Find It. [1] Noam, E. 2016. Who Owns the Worlds Media? Or It is expected that the dividend will be increased over time as synergies are realized and leverage is reduced. [15] They also acquired Dolan Media Group[16] and Journal Multimedia,[17] adding business publications to their portfolio. New Media and Gannett will co-host a conference call to discuss the transaction and second quarter earnings on August 5, 2019 at 4:15 p.m. Eastern Time. In April 2019, for example, private equity firm Great Hill Partners acquired the Gizmodo Media Group and The Onion, and combined their digital news assets, which include Gizmodo, Jezebel, and The A.V. The biggest media conglomerates in America are AT&T, Comcast, The Walt Disney Company, National Amusements (which includes Viacom Inc. and CBS), News Corp and Fox Corporation (which are both owned in part by the Murdochs), Sony, and Hearst Communications. Gannett on Wednesdaynamed a mix of leaders from the old Gannett and its acquirer, New Media Investment Group, to lead the media company. It intends to operate newspaper, media directory and other media content businesses. Doctor said Gannett's success with the development of the USA TODAY Network, which shares journalism resources and national ads, is also key. But a great reputation can never be boughtonly earned and protected. GateHouse Media Inc. was an American publisher of locally based print and digital media. Initially, the combined company is expected to have an annual dividend of $0.76 per share. The combined group of business publications was rebranded as BridgeTower Media.[18]. Maribel Perez Wadsworth, previously USA TODAY Network president, who will serve as president of news and will continue to serve as USA TODAY publisher. Several other billionaires, including Comcast CEO Brian Roberts and Liberty Media Chairman John Malone, own or control cable TV networks that are powerful but not primarily news focused. On September 27, 2018, GateHouse Media announced the acquisition of The Oklahoman Media Company, parent company of The Oklahoman, which is the state's largest daily newspaper, for an undisclosed amount from The Anschutz Corp. Samantha Howland, previously senior vice president of human resources for GateHouse, who will serve as chief people officer. Artificial intelligence can make investing more straightforward, bringing investment insights to the masses. With an unmatched local-to-national reach, Gannett touches the lives of more than 125 million people monthly with its Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser products and services. How to Pin Folders and Files to Finder Menu, How To Autofill Letters from A-Z in Excel. The Hearst name, for example, first appeared on a newspaper masthead in 1887. Today Hearst Communications owns dozens of newspapers and magazines throughout the country, each with a significant online presence. The rest of the combined companys senior executive team, which is expected to be composed of highly experienced leaders from both companies, will be announced at a later date. We see numerous opportunities to leverage the combined companys enhanced scale and financial strength to continue to drive growth in the digital future. Jason Taylor, previously president of New Media Ventures and GateHouse Live, the company's events business, will serve as president of events and promotions at the new company. 2023 Forbes Media LLC. Mexican billionaire Carlos Slim owns 17.4 percent of The New York Times through the company's Class A shares. It delivers content and products related to eating, drinking, and entertaining with a Southern flair. The new Gannett's nine-person board will consist of Reed plus five New Media appointees and three Gannett appointees. Bloombergcofounded his financial data company in 1981 withCharles Zegar andThomas Secunda, both of whom are now billionaires as well thanks to their minority equity stakes in Bloomberg LP. Zuckerman serves as chairman and editor-in-chief of U.S. News & World Report, which he bought in1984. As of June 30, 2019, New Media operates in over 600 markets across 39 states reaching over 21 million people on a weekly basis and serves over 200,000 business customers. [7] On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications. [4] Immediately after the merger was finalized, all GateHouse Media URLs began redirecting to Gannett.com. Precise vote totals were not immediately available, but New Media CEO Mike Reed said that about 99% of the 75% of New Media shareholders who voted approved the deal. In third place we have Jim Mullen, CEO of Reach PLC (known as Trinity Mirror until 2018) with 140 outlets under its control including Daily Mirror, Daily Express, Manchester Evening News and the magazine OK! Billionaires own part or all of several of Americas influential national newspapers, including The Washington Post, The Wall Street Journal and theNew York Times, in addition to magazines, local papers and online publications. In March a jury awarded Hogan $140 million in damages. [25], 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. Billionaire Red Sox owner John Henry purchased the Boston Globe in October 2013 for $70 million. Concurrent with the entry into the Merger Agreement, New Media and the Manager have agreed to amend the Management and Advisory Agreement dated as of March 6, 2015 (such amendment, the Amended Management Agreement), pursuant to which the Manager provides a management team (including the Chief Executive Officer) and other professionals who provide services to New Media. To connect with Gannett, visit www.gannett.com. Heres a look at some of the billionaires who own news media in the United States: Michael Bloomberg BloombergLP and Bloomberg Media. NordVPN includes a 30-day money-back guarantee. Key executives, who will report to Bascobert, include: In addition, Henry Faure Walker will serve as CEO of Newsquest Media Group, a publishing arm in the United Kingdom. The Globe was previously owned by the New York Times for twenty years. Slim more than doubled his stake in The New York Times in June 2015 to approximately 17% of the media company. The newspapers were operated by GateHouse Media following the purchase. News Corp, through News Corp UK, and Daily Mail and General Trust plc own many of the largest national news sites in the U.K. 'Pivot' needed for digital transformation as merger is completed, Shareholders of USA TODAY owner Gannett and New Media Investment Group approve merger, New Media and Gannett announce board of directors for combined company, Your California Privacy Rights/Privacy Policy. One ultra-wealthy media investor not mentioned in the story: Mexican billionaire Carlos Slim Helu, who owns the largest individual stake in the Times. Revenue Media runs in Hubbards family; his father started Minnesotas first commercial TV station in 1923. While many believed the internet would bring openness and diversity to the worlds media, online news media has become increasingly consolidated over the past several decades. FORBESpegs his net worth at $45.7 billion. Read a newspaper, magazine, watch CNN, FOX, anything besides Social Media. Together, the new company's publications and digital marketing services will be under pressure to stem revenue declines. The combined company will be headquartered in McLean, Va., with a continued corporate presence in existing locations. It listed assets of $433.7 million and debt of $1.3 billion. As the largest shareholder, his investment allows him to vote for approximately one . Founded Date 1906 Founders Jason Taylor Operating Status Active Investor Type Private Equity Firm Stock Symbol NYSE:NEWM Company Type For Profit Contact Email ir@newmediainv.com Phone Number 212.479.3160 [29], In March 2018, GateHouse announced its $47.5 million purchase of the Austin American-Statesman of Austin, Texas. NordVPN includes a 30-day money-back guarantee. Alison Engel expected to become Chief Financial Officer; Si stepped down as chairman of Conde Nast in 2015. [23] In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. Click here to explore who owns the news in America. Mr. Kevin Sheehan, who currently serves as New Medias Lead Director, will serve as the combined companys Lead Director. Gannetts newly appointed Chief Executive Officer, Paul Bascobert, will become Chief Executive Officer of the combined companys operating subsidiary. The new company's financial success will hingeon its ability to shed overlapping costs and achieve what it calls a "digital transformation" built on increased revenue from digital products and marketing services. Sam Levenson [citation needed] In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. Since beginning his run for president, Trump has accused Bezos of using the Post to get tax breaks for Amazon and sending reporters after Trump. At least 82% of Gannett's shares werevoted in favor of the deal, Gannett chairman J. Jeffry Louis said. This site uses Akismet to reduce spam. Some billionaires, like Rupert Murdoch and Michael Bloomberg are longtime media moguls who made their fortunes in the news business. Copyright 2006 by The Gale Group, Inc", GateHouse Media stock being delisted from NYSE - October 22, 2008, "GateHouse Buying 14 Dailies, Other Pubs, From Morris For $115 Million", "News Corp. sells 33 papers to New York investors", "GateHouse Media Files for Pre-packaged Chapter 11", "GateHouse Media officially done with bankruptcy", "GateHouse Media Files Chapter 11 to Form New Company", "GateHouse Media to Buy Morris Communications", "GateHouse acquires News-Journal, Halifax Media", "Review-Journal, parent Stephens Media to be sold to New Media", "Sheldon Adelson's Purchase of Las Vegas Paper Seen as a Power Play", "GateHouse to acquire Kansas-based Harris newspapers", "Fox Business - GateHouse Media Buys Dix Communications Newspaper Chain", "Business Wire - New Media Announces Agreement to Acquire Calkins Media", "GateHouse acquires Morris Publishing's 11 daily newspapers", "Providence Journal parent buys publisher of Newport Daily News", "The Register-Guard sold to GateHouse Media", "GateHouse Media grows its empire by buying top exec's publishing company", "New Media Investment Group to Acquire The Palm Beach Post and Palm Beach Daily News", "Gatehouse Media purchases Akron Beacon Journal", GateHouse Media Buys Akron Beacon Journal and Ohio.com, "New Media Announces Solid Fourth Quarter & Full Year 2018 Results, Dividend of $0.38 per Common Share", "Herald-Times, Other Local Papers Sold To GateHouse Media", "GateHouse Media to acquire New Jersey Herald", "USA Today owner Gannett merges with GateHouse Media to form massive newspaper company", "New Media Investment Group to Acquire Gannett", https://en.wikipedia.org/w/index.php?title=GateHouse_Media&oldid=1141218731, This page was last edited on 23 February 2023, at 23:45. Gannett's current CEO, Bascobert, will retain that title as head of the new company's operating subsidiary, also to be called Gannett. or Google, when so many surveys show that a great number of people get ALL their news from there? How can you possibly not list any social media sites, such as Facebook, etc. The newspapers own reporting outed the billionaire buyer, who reportedly arranged the $140 million deal through his son-in-law. [10] The company filed for Chapter 11 bankruptcy in U.S. Bankruptcy Court in Wilmington, Delaware on September 27, 2013. "The whole goal is to get rid of that," he said. The companies believe that diversity can strengthen board performance and New Media is actively searching for women and other candidates with diverse backgrounds and experiences. These options become exercisable upon the first trading day immediately following the first 20 consecutive trading day period in which the closing price of New Medias common stock (on its principal U.S. national securities exchange) is at or above $20 per share, and also upon a change in control and certain other extraordinary events. Some bought television stations and magazines, too. Twitter CEO Elon Musk called the media racist in several tweets on Sunday in a strange reaction to the news that the countrys biggest newspapers were dropping the Dilbert comic strip. ir@newmediainv.com Achieving a faster EB-5 processing time is possible now thanks to the new law passed by the U.S. Congress. "Our commitment to build those brands is even stronger than ever. Rural news media is largely dominated by Australian Community Media, whose portfolio includes over 170 regional newspapers and their corresponding websites. or Use Forbes logos and quotes in your marketing. He previously was CEO of New Media. Google, per-se, is not a news company , Your email address will not be published. According to Delport, based on the company's own calculations, Vice has a global digital audience of 300 million monthly users across its owned-and-operated properties as well as platforms like. 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. MNG Enterprises, Inc., doing business as Digital First Media and MediaNews Group, is a Denver, Colorado -based newspaper publisher owned by Alden Global Capital. It intends to operate newspaper, media directory and other media content businesses. FTI is one of several vendors who say they've gone unpaid by the youth media company . Total pro forma leverage at closing of the Merger is expected to be approximately 3.5x LTM As Adjusted EBITDA, before run-rate synergies, and 2.3x including run-rate synergies. Bill Church, Senior VP News; Liberty Group Publishing was formed in 1998 when Kenneth L. Serota, a former Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. Michael Bloomberg, the richest billionaire in the media business, returned to his eponymous media company in September 2014, eight monthsafter stepping down as mayor of New York City. Bascobert said they sought to "create a careful balance between the two organizations" with a goal of ensuring people are on the same page culturally and strategically. The Merger brings together the portfolios of two leading local newspaper companies, and includes USA TODAY, Gannetts flagship brand, and its more than 160 brands in the U.K., which will significantly expand the existing USA TODAY NETWORK. Gawker aims to appeal the ruling. [22], In November 2016, GateHouse announced the purchase of Harris Enterprises, based in Hutchinson, Kan., which operated six daily newspapers in Kansas and Iowa. [30], On April 10, 2018, GateHouse announced that it had agreed to acquire the Akron Beacon Journal of Akron, Ohio for $16 million from Black Press Group. Mike Reed will serve as CEO of the newly combined public company, which took on the name of Gannett Co. when the merger was finalized Tuesday. But one area for growth is events, where New Media has a particularly strong business, Doctor said. the parties ability to consummate the proposed transaction and to meet expectations regarding the timing and completion of the proposed transaction; the satisfaction or waiver of the conditions to the completion of the proposed transaction, including the receipt of the required approval of New Medias stockholders and Gannetts stockholders with respect to the proposed transaction and the receipt of regulatory clearances required to consummate the proposed transaction, in each case, on the terms expected or on the anticipated schedule; the risk that the parties may be unable to achieve the anticipated benefits of the proposed transaction, including synergies and operating efficiencies, within the expected time-frames or at all; the risk that the committed financing necessary for the consummation of the proposed transaction is unavailable at the closing, and that any replacement financing may not be available on similar terms, or at all; the risk that the businesses will not be integrated successfully or that integration may be more difficult, time-consuming or costly than expected; the risk that operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) may be greater than expected following the proposed transaction; the retention of certain key employees; and. Arthur said he believes the combined company's revenue projections are "way too optimistic" due to the continued demise of print. For news sites that are owned by investment firms with a majority stake, we opted for the CEO or director of the investment firm. Conde Nast, a unit of Advance Publications, publishes magazines including Wired, Vanity Fair, The New Yorker and Vogue. Adam Reinbach will serve as president and CEO of BridgeTower Media, which produces business, home furnishings,legislative and other digital and print publications and events. It is the largest newspaper in Central Texas. Copies will also be available at no charge in the Investor Relations sections of New Medias website, www.newmediainv.com and Gannetts website, www.gannett.com. The proposed transaction will be submitted to New Medias stockholders and Gannetts stockholders for their consideration. We then used SimilarWeb to find out the estimated monthly visit figures of all the sites. Please visit the Investor Relations section of either companys website (www.newmediainv.com or www.gannett.com). Rupert Murdoch, former CEO of 21st Century Fox, the parent of powerhouse cable TV channel Fox News, may well be the worlds most powerful media tycoon. Club, into a new company named G/O Media Inc. One name towers above all the rest when it comes to owning media outlets, and that name is Michael Reed and hes the CEO of New Media Investment Group. The company will be based atGannett's headquarters in McLean, Virginia. Click here to explore who owns the news in the UK. [3] [4] It is the largest U.S. newspaper publisher as measured by total daily circulation. Bascobert, who has a background in e-commerce as well as media, will now serve as. 91 were here. This equates to a combined monthly readership of over 1 billion people. "The number is going to be higher.". [6] It was renamed GateHouse and its headquarters moved to suburban Rochester, New York, in April 2006. We then determined the parent companies behind each of these 50 outlets and identified all of the properties in their online media portfolios. New Media, operating as Gatehouse Media, has also expanded its investigative reporting team. Vinod Adani was at the heart of two massive Adani Group deals with French energy giant TotalEnergies, according to Indian filings. This communication may be deemed to be solicitation material in respect of the proposed transaction between New Media and Gannett. Ownership News Corp is the parent company and officially owns the website and all its other outlets. National online news media in Australia is essentially controlled by two companies: News Corp, through News Corp Australia, and Nine. 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