Gannett’s USA Today national sales team will lead the go-to-market strategy on behalf of both companies. It will take the lead on pitching clients and agencies about the new partnership, which is being dubbed the “combined power of local.” Several new ad products will help national brands reach local audiences across the local news sites from the combined Gannett and McClatchy portfolios.
Former Tribune Publishing executive Tony Hunter will become CEO of The McClatchy Co. after its sale to Chatham Asset Management, which is expected to close in September. Chatham is acquiring McClatchy for $312 million, the New Jersey hedge fund announced last month.
Hedge fund ownership of newspaper groups typically spells doom for the newsrooms. But Chatham Asset Management’s takeover of McClatchy — scheduled to be finalized on Tuesday — is actually inspiring some cautious optimism among its journalists. That’s because Chatham has agreed to allow all employees to keep their jobs while honoring existing union contracts under the hedge fund’s plan to pay $312 million for the newspaper conglomerate. It’s a stark contrast to hedge funds’ habit of job cutting when they take ownership of newspapers.
In keeping with a nationwide industry trend, a finance firm seems poised to take control of the publisher of The Miami Herald and The Sacramento Bee.
Exclusives
Google and the McClatchy publishing company said Tuesday they will launch digital-only newsrooms to provide information to three U.S. communities that are currently news “deserts.”
Tribune Publishing Co.’s talks over a potential takeover by McClatchy Co. have ended without a deal for the regional newspaper owner, according to people familiar with the matter. Tribune Publishing rejected a fully financed cash-and-stock offer from McClatchy valuing the company at $16.50 a share, said the people, who asked not to be identified because the details aren’t public. Tribune Publishing is talking to other potential buyers, one of the people said.
The Sacramento Bee on Monday enacted a round of layoffs, the latest in a series of staff reductions executed by its corporate parent, The McClatchy Co. Bee Executive Editor Joyce Terhaar acknowledged the layoffs Monday morning in an email to staff that did not specify the number of staffers cut.
CMSs Tackle Workflow, Fake News Problems
Content management systems are being enlisted to tackle newsroom workflow problems and the proliferation of fake news in a fast-evolving industry. In a new special report, Angela Misri looks at how CMS-level content verification has come into play, along with the increasing demand to produce platform-neutral content and why some media companies, including Al Jazeera and Hearst Television, have chosen to build their own CMSs.
The Local Media Consortium inked a three-year deal with Google on Monday providing its 800-plus members with Google search and ad serving technology including a private ad exchange powered by DoubleClick. Among the members with broadcast interests are A.H. Belo, Hearst Communications, E.W. Scripps and Calkins Media.
CMS Vendors Vie On Changing Terrain
Local newspapers and broadcasters today are seeking content management systems that are faster and more complex than ever before. And while vendors are constantly developing new products to keep up with evolving demands, the industry is facing contraction. “There are just too many players, and nobody is really big enough to have any control,” says Internet Broadcasting’s Elmer Baldwin. “There are some that just aren’t going to survive.” Part two of a three-part special report. Read part one here
For Media Firms, CMS World Gets Complex
Content management systems serving the local media industry have taken a quantum leap forward, and choosing the right CMS has become more complicated than ever. Media companies have some difficult choices: select a system from a vendor, build one in-house or use an open-source system. Ron Stitt, VP of digital media at Fox Television Stations: “The pace of development is still constantly accelerating, and the landscape is incredibly complex when you factor in not just the front end but also the underlying platforms, devices, operating systems, display formats, distribution schemes and advertising/tracking requirements.” Part one of a three-part special report. Read the full report here.
