- GateHouse Media
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GateHouse Media, Inc. Type Public Traded as OTC Markets Group: GHSE Industry News media Predecessor Liberty Group Publishing Founded 1997 Founder(s) Kenneth L. Serota Headquarters Perinton, New York, U.S. Area served United States Key people Michael E. Reed, CEO Products 87 daily newspapers
271 weekly newspapers
111 “shoppers”
over 260 locally-focused websites
seven yellow page directoriesRevenue US$ 559 million (2010)[1]
Operating income US$ 43 million (2010)[1]
Net income US$ (26 million) (2010)[1]
Total assets US$ 546 million (2010)[1]
Total equity US$ (792 million) (2010)[1]
Owner(s) Fortress Investment Group LLC (39.6% equity) (2010)[1] Employees 5,239 (2010)[1]
Website gatehousemedia.com GateHouse Media Inc. (formerly Liberty Group Publishing) OTC Markets Group: GHSE is a U.S. newspaper publisher, headquartered in Perinton, New York, that publishes 97 dailies in 20 states and 198 paid weeklies, in addition to free papers, shoppers and specialty and niche publications.
Contents
History
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.[2]
Headquartered in Downers Grove, Illinois Liberty then expanded the network increasing the total newspapers to 330 by 2000. Faced with problems it would downsize to 270 by June 2005.
In June 2005 Fortress Investment Group bought Liberty for $527 million. Fortress expanded it to 75 dailies, 231 weeklies, 117 shoppers and 230 web sites.[3]
It was renamed GateHouse and its headquarters moved to suburban Rochester, New York in April of 2006.
In May 2006, it acquired Community Newspaper Company of Massachusetts, the publisher of four daily and almost 100 weekly newspapers in the Boston area. At the same time, Liberty bought Community Newspaper competitor Enterprise News Media.[4] By the end of the year, the company had also announced it would acquire Journal Register Company's properties in southeastern Massachusetts.[5]
Company executives said GateHouse's focus on "hyper-local" journalism -- small newspapers covering small cities and towns with a depth that big newspapers and television cannot offer -- would enable it to buck downward trends in the newspaper industry.[6]
In October 2006 GateHouse had its IPO with Fortress maintaining 60 percent ownership[7] Its stock dropped from $20 on initial trading in 2006 to 16 cents when it was delisted in October 2008.
On October 23, 2007, GateHouse announced it was purchasing 14 daily newspapers and other publications from Morris Communications.[1] On August 28, 2008, GateHouse sold two of those papers, The Grand Island Independent and the York News-Times, both in Nebraska, to the Omaha World-Herald Co.[2]
The Company received notification from the NYSE on August 21, 2008, that the Company 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 over a consecutive 30 trading day period 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 the Company's non-compliance with continued listing standards but was unsuccessful in its efforts to avoid suspension and delisting.
On March 29, 2010 the Company announced[8] the launch of RadarFrog.com, an online portal that features both online and national coupons and deals. Shannon K. Dunnigan was appointed as the CEO of RadarFrog which will be run as a new division of the Company.
Holdings
Daily Newspapers
Arkansas
- Arkadelphia Daily Siftings Herald of Arkadelphia, Arkansas
- Hope Star of Hope, Arkansas
- Stuttgart Daily Leader of Stuttgart, Arkansas
California
- The Daily Independent of Ridgecrest, California
- Siskiyou Daily News of Yreka, California
Colorado
- La Junta Tribune Democrat of La Junta, Colorado
Connecticut
- Norwich Bulletin of Norwich, Connecticut (bought from Gannett in April 2007)
Illinois
- Benton Evening News of Benton, Illinois
- Daily Ledger of Canton, Illinois
- Carmi Times of Carmi, Illinois
- Du Quoin Evening Call of Du Quoin, Illinois
- Eldorado Daily Journal of Eldorado, Illinois
- The Journal Standard of Freeport, Illinois
- The Register-Mail of Galesburg, Illinois
- Daily Register of Harrisburg, Illinois
- Star Courier of Kewanee, Illinois
- The Courier of Lincoln, Illinois
- Macomb Journal of Macomb, Illinois
- Marion Daily Republican of Marion, Illinois
- Daily Review Atlas of Monmouth, Illinois
- The Olney Daily Mail of Olney, Illinois
- Pekin Daily Times of Pekin, Illinois
- Journal Star of Peoria, Illinois
- Daily Leader of Pontiac, Illinois
- Rockford Register Star of Rockford, Illinois
- The State Journal-Register of Springfield, Illinois
- Daily American of West Frankfort, Illinois
Kansas
- Augusta Daily Gazette of Augusta, Kansas
- Derby Reporter of Derby, Kansas
- Dodge City Daily Globe of Dodge City, Kansas
- The El Dorado Times of El Dorado, Kansas
- Leavenworth Times of Leavenworth, Kansas
- McPherson Sentinel of McPherson, Kansas
- The Newton Kansan of Newton, Kansas
- The Morning Sun of Pittsburg, Kansas
- The Pratt Tribune of Pratt, Kansas
- Wellington Daily News of Wellington, Kansas
Louisiana
- The Bastrop Daily Enterprise of Bastrop, Louisiana
- Beauregard Daily News of Deridder, Louisiana
- Leesville Daily Leader of Leesville, Louisiana
- Southwest Daily News of Sulphur, Louisiana
Massachusetts
- The Enterprise of Brockton, Massachusetts
- The Herald News of Fall River, Massachusetts
- The MetroWest Daily News of Framingham, Massachusetts
- The Milford Daily News of Milford, Massachusetts
- Daily News Transcript of Needham, Massachusetts
- The Patriot Ledger of Quincy, Massachusetts
- The Taunton Gazette of Taunton, Massachusetts
- Daily News Tribune of Waltham, Massachusetts
Michigan
- The Daily Telegram of Adrian, Michigan
- Cheboygan Daily Tribune of Cheboygan, Michigan
- The Daily Reporter of Coldwater, Michigan
- The Hillsdale Daily News of Hillsdale, Michigan
- The Holland Sentinel of Holland, Michigan
- Sentinel-Standard of Ionia, Michigan
- The Evening News of Sault Ste. Marie, Michigan
- Sturgis Journal of Sturgis, Michigan
Minnesota
- Crookston Daily Times of Crookston, Minnesota
Missouri
- Boonville Daily News of Boonville, Missouri
- Lake Sun Leader of Camdenton, Missouri
- The Carthage Press of Carthage, Missouri
- Constitution Tribune of Chillicothe, Missouri
- Hannibal Courier-Post of Hannibal, Missouri
- The Examiner of Independence, Missouri
- Kirksville Daily Express & News of Kirksville, Missouri
- Chronicle Herald of Macon, Missouri
- Maryville Daily Forum of Maryville, Missouri
- The Mexico Ledger of Mexico, Missouri
- Moberly Monitor Index of Moberly, Missouri
- Neosho Daily News of Neosho, Missouri
- Rolla Daily News of Rolla, Missouri
- The Daily Guide of Waynesville, Missouri
North Dakota
- Devils Lake Daily Journal of Devils Lake, North Dakota
New York
- Daily Messenger of Canandaigua, New York
- The Leader of Corning, New York
- The Evening Telegram of Herkimer, New York
- Evening Tribune of Hornell, New York
- The Evening Times of Little Falls, New York
- Utica Observer-Dispatch of Utica, New York (bought from Gannett in April 2007)
- Wellsville Daily Reporter of Wellsville, New York
Ohio
- The Repository of Canton, Ohio
- The Times-Reporter of New Philadelphia, Ohio
- The Independent of Massillon, Ohio
Oklahoma
- The Daily Ardmoreite of Ardmore, Oklahoma
- The Shawnee News-Star of Shawnee, Oklahoma
Pennsylvania
- The Wayne Independent of Honesdale, Pennsylvania
- The Record Herald of Waynesboro, Pennsylvania
Tennessee
- The Oak Ridger of Oak Ridge, Tennessee
West Virginia
- Mineral Daily News Tribune of Keyser, West Virginia
Nondaily Publications
- La Estrella of Dodge City, Kansas
- Girard Press of Girard, Kansas
- Vermillion Plain Talk of Vermillion, South Dakota
- "Cresco Times Plain Dealer" of Cresco, Iowa
- Advocate Press of Flora, Illinois
- Villa Park Argus of Villa Park, Illinois
- Gonzales Weekly Citizen of Gonzales, Louisiana
- Donaldsonville Chief of Donaldsonville, Louisiana
- Plaquemine Post South of Plaquemine, Louisiana
- Newton TAB of Newton, Massachusetts
- The Cambridge Chronicle of Cambridge, Massachusetts
- Dover Post of Dover, Delaware
- The News-Eagle of Hawley, Pennsylvania
- The Carbondale News of Carbondale, Pennsylvania
- The Villager of Moscow, Pennsylvania
- The Daily World of Helena, Arkansas
Footnotes
- ^ a b c d e f g Gatehouse Media, Inc. (2011-03-01), FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2010, Washington, D.C.: U.S. Securities and Exchange Commission, File 001-33091, film 11652426, http://www.sec.gov/Archives/edgar/data/1368900/000119312511052269/d10k.htm, retrieved 2011-03-04
- ^ http://www.highbeam.com/doc/1G1-115189223.html Red ink pressing publisher; Liberty Group grew fast, but so did its debt - Crains - August 5, 2004]
- ^ International Directory of Company Histories. Copyright © 2006 by The Gale Group, Inc.
- ^ The Patriot Ledger at SouthofBoston.com
- ^ http://www.heraldnews.com/site/news.cfm?newsid=17540128&BRD=1710&PAG=461&dept_id=99784&rfi=6
- ^ Syre, Steven (October 24, 2006). "An unlikely IPO". The Boston Globe. http://www.boston.com/business/articles/2006/10/24/an_unlikely_ipo/?rss_id=Boston+Globe+--+Business+News.
- ^ GateHouse Media stock being delisted from NYSE - October 22, 2008
- ^ RadarFrog.com Launch Press Release
External links
Categories:- Companies listed on the Pink Sheets
- Companies based in Monroe County, New York
- Publishing companies established in 1997
- Companies formerly listed on the New York Stock Exchange
- Newspaper companies of the United States
- GateHouse Media
- Hyperlocal in the United States
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