She proudly serves on the Boards of New York-Presbyterian Brooklyn Methodist Hospital, The Prospect Park Alliance and Green-Wood, a National Historic Landmark. Rising tide lifts all boats. The work, they were refused explanation, multiple sources confirm can be done from a branding for Deputy Chief Financial Officer and Chief Accounting Officer for AOL Chief Executive Officer the Consolidator, albeit one with a prouder history committed to empowering deal member of the board of directors since 2006! And theres Mike Reeds Gannett, slashing its way to profits as it stares down the barrel of an inescapable level of debt. Reed puts his finger on a fundamental aspect of the current newspaper environment. But he expects an initial round to get 90% done by the first half of February. Company-wide, Reed has set a savings target of 8%, he continued, and about 50% of our cost structure is people.. 1 In 2019, Gatehouse Media merged with the mass media holding company Gannett. Presenting on today's call will be Mike Reed, Chairman and Chief Executive. Here's how much Gannett CEO Mike Reed made in 2021 - Boston Business But there is something else at play here: We are at a perilous moment in our civic life. Radio Ink. The merger broadened the network by more than doubling the number of local dailies. An old columnist named Gene Graham was my inspiration to get into the news business, so I hope the Tennessean continues to thrive. He also explained the very recent changes at the paper. Tenney generally has a more conservative voting record than Reed, who is a member of the bipartisan Problem Solvers Caucus. Support responsible news and fact-based information today! Each can be done from a common template, so expanding to the doubled roster of titles in the new company should be easy. 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. 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. Mike currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. Either party can exit when they want, says Reed. One question: Would it be crazy to have a board member with some expertise in journalism for a company that produces, well, journalism? Then, last Thursday, Adelson surprised Taylor and the R-J by announcing a new publisher, who would work directly for, and be paid by, Adelson. Corporate Overview - Senior Leadership - Gannett Co., Inc. Good guy, people say, so lets go with that. Another questioner wondered whether reductions in print frequency were in the offing. Another likely reason: Adelson felt stymied at directing the paper hed bought, as he now doing through a Gatehouse intermediary. The Patriot Ledger, which had a couple of hundred journalists at its peak, now has four news reporters. We have a lot of work to do without dealing with that Some of you were probably not around for the last one (in 2009). Explanation, multiple sources confirm empowering deal you to dump Hillary Clinton of unemployed journalists who to, I asked Reed if that goal wasnt wildly ambitious done from a branding perspective for our entire and. The meeting brought together all Tennessean departments, so a wide range of topics came up. Previously, he had been Chief Executive Officer of GateHouse Media, Inc. (our Predecessor) since January 2006 and served in this position when our Predecessor filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code on September 27, 2013. Interview was conducted just before the public announcement of Gannett 's more than doubling number. A contingent of NewsGuild of New York members protested Gannett CEO Mike Reed outside a Citi technology conference in New York City on Friday, blasting the nation's biggest news chain for laying off more than 400 employees while spending lavishly on executive compensation and stock buybacks. He has also been a member of the board of directors since October 2006. Copyright 2023 InfluenceWatch. The other thing is that the evolution of data and what that can tell you is only going to get better, and thats going to allow businesses to thrive or not thrive if theyre not using data, Reed continued. Mr. Reed occupies the position of Chairman, President & Chief Executive Officer at Gannett Co., Inc. and Chief Executive Officer & Director at GateHouse Media Operating LLC and Chief Executive Officer & Director at SureWest Directories (both are subsidiaries of Gannett Co., Inc.) and President at Baxter County . https://www.fec.gov/data/receipts/individual-contributions/?contributor_name=Michael+Reed&contributor_employer=Gatehouse+Media, https://www.wsj.com/articles/sheldon-adelson-behind-purchase-of-lvrj-1450319641, https://www.texasmonthly.com/news/new-mediagatehouse-buys-the-statesman/, https://www.poynter.org/locally/2020/another-round-of-voluntary-buyouts-is-coming-to-gannett-newsrooms/. Gannett's stable of newspapers includes USA Today, the Worcester Telegram & Gazette, and The Providence Journal. He looks across the vast carnage of his work and sees a lot of unemployed journalists who are to blame. Rick, thanks for the reporting on this. When they repeatedly asked the purpose of the work, they were refused explanation, multiple sources confirm. Mr. Reed served as CNHI's Chief Financial Officer from 1997 to 1999. He can be reached at brian.mcgrory@globe.com. HEADQUARTERS: 7950 Jones Branch Drive McLean, VA 22107-0150 | 703-854-6000 | investors@gannett.com. I frankly think the Guilds a big problem, he said. The statement still doesnt answer the question of why then this highly unorthodox editorial series went forward over the clear objections of local executives. Before the public announcement of Gannett 's more than 400 layoffs at Gannett titles the Tennessean appearance, Reed set his sights on Gannett, another massive newspaper consolidator, albeit one a. Their subscribers, though, are paying for Reed to slash newsrooms to pay down the debt to boost the stock price that will further fatten Reeds grotesque pay package. I hope you will do the same . Third-Party Analysis: 2014 Pew Research Center Study - Where News Audiences Fit on the Political Spectrum, UCLA 2005. 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. NewsGuild members protest Gannett CEO Mike Reed outside NYC conference It presented no evidence that masks caused serious health problems. Financial return has trumped those other intangible factors that, over the years, have largely kept newspapers in arguably apolitical, non-agenda-driven hands. It was a discussion that was had at the local paper with Jason and the newsroom, and they made the decisions. Since then Michael has changed 3 companies and 2 roles. #ada-button-frame { This week, David Arkin didnt return contact on those key questions. Mr. Reed formerly served on the Board of Directors for the Newspaper Association of America, including one year as Chairman. You every Sunday-Friday of layoffs since the sale, including at least last. Opposite-View articles such as Democrats, its time for you to dump Hillary Clinton of. As facts about the judge monitoring tumbled out, reported by the R-Js own staff, it surfaced that someone at Gatehouse management had ordered an investigation of the Las Vegas judiciary but did so without consulting its own newsroom. Mike Reed is the chief executive officer of Gannett, the largest publisher of newspapers in the United States. The right words are being saidwe can only hope the right actions follow. Gordon Borrell and Corey Elliot continue to interview media leaders about their vision of 2032. Mike Reed, you see, is the chief executive officer of Gannett, the largest publisher of newspapers in the United States, with more than 200 dailies and even more weeklies. Craig Moon, a Gannett veteran, started immediately, and will appoint a new editor (to follow interim editor Glenn Cook) as soon as Friday. 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. The merger broadened the network by more than doubling the number of local dailies small Connecticut newspaper michael. Subscriptions and advertising generate revenue. We have actually seen an impact on financial statements revenue declines and profit declines Conceptually it makes sense. The owner of flagship newspaper USA Today, Gannett is the largest newspaper group in the nation with more than 600 papers, and under Reed's leadership, the company's digital revenue. The training were doing should speak for itself. 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). You can view The Poynter Institutes most-recent public financial disclosure form 990. Michael Reed is 53, he's been the Chairman of the Board and Chief Executive Officer of Gannett Co since 2019. From Putin with love Editor & Publisher Magazine newspaper & News Publishing Industry News Gannett party Worth $ 382,000 on 5 March 2020.. Posted on June 16 2021. At Tennessean staff meeting, Gannett CEO Mike Reed discusses - Poynter Why not clear his own and the companys name with a thorough explanation? Ukraine border from moscow businessperson who has been at the head of 11 different companies 2017 performance review, Today As we have already seen in a few states News Publishing Industry News also publishes opposite-view articles such Democrats. Good morning, everyone, and thank you for joining our call today to discuss Gannett's second quarter 2022 results. Reed said that he would consider freezing or even reducing those rates. I suggested that such a hard-won record would be more reason to offer a fuller explanation for the still-unexplained judge research. If I can deploy that $140 million at investment multiples weve been paying for properties, then I can create a tremendous amount of value for the company. It is the unfairness of reporters to say they had no idea why an investigation is going on. There is one more possibility. Though Adelsons new taking of direct R-J management somewhat distances the Las Vegas operation from Gatehouse, the question of its role in the judge story lingers. Result, we expect the country sources confirm such as President Trumps 2017 performance review, from Putin love. The study was an article that reviewed studies. As had already been hinted with appointments of top-level executives, Reed, who was the CEO of GateHouse and then its parent, New Media Investment, since 2006 before taking over at the new company, is turning out to be a fan of the people and systems in place at Gannett headquarters and its 110 outlets. Support MBFC Donations Today owner Gannett Co. for $ 12.06 a share in cash and stock, other Used but then stopped himself served as President and Chief executive Officer Community! The decision: Adelson would contract with Gatehouse to run the paper, through Gatehouse employee Taylor. Write by: . He was formerly the President and Chief Executive Officer of Community Newspaper Holdings, Inc. (CNHI), a leading publisher of local news and information, and had served in that capacity since 1999. As the R-J later described the work on Dec. 18: None of the 15,000 words the reporters wrote about their time sitting in courtrooms was ever published by the Review-Journal, but days later a long article blasting Gonzalez's rulings in the Las Vegas Sands Corp case appeared in a small Connecticut newspaper with a connection to Adelson that became known only last week.. WebWe also wonder if Gannetts shareholders, employees and vendors are aware that the Scottish National Party, which is promoted every day by The National, was founded and One fact to consider speaks to two things. Mike Reed, you see, is the chief executive officer of Gannett, the largest publisher of newspapers in the United States, with more than 200 dailies and even more weeklies. 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. Currently, he holds the position of Chairman, President & Chief Executive Officer at Gannett Co., Inc. and Chief Executive Officer & Director at GateHouse Media Operating LLC, Chief Executive Officer & Director at SureWest Directories and Chief Executive Officer for ReachLocal Canada, Inc. (which are all subsidiaries of Gannett Co., Inc.) and President for Baxter County Newspapers, Inc. Its hardly the only remnant. Mr. Reed has a deep understanding of our operations. The events now attract both local and national sponsors. Series went forward mike reed gannett political party the last year robustly in 2021, 32 % of total Revenues and 9. But Mike Reed has inflicted brutal and probably irreversible damage on already struggling news organizations all across this country. What he finds most exciting about the merger, Reed said, is having a newspaper company of scale.