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. That would encourage our customers to go elsewhere. The size of the market might dictate otherwise but we would rather be seven days a week In five years we might do something different.. Total Digital Revenues Surpassed $1.0 billion in 2021, 32% of Total Revenues and Up 9% Year-over-Year 714-269-XXXX. While described as voluntary by Reed, editors at Gannett have said basically if you get the letter, you are toast. 5 Those who receive the letter typically receive a week of severance for each year of employment plus a bonus. View the profiles of people named Mike Reed. 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 Gannett stock has plunged about 70 percent under Reeds leadership. We did not do anything wrong in Las Vegas. I asked him what kinds of untruths had been reported or said in interviews. Completely unfair statement. Good morning, everyone, and thank you for joining our call today to discuss Gannett's second quarter 2022 results. ), He closed the Tennessean meeting on a positive note: We have an opportunity to be an organization that turns around the industry narrative., In a brief email exchange, Reed told me he is not bothered by attacks from the NewsGuild and other critics. A sign for the Las Vegas Review-Journal. Instead, Gatehouse corporate asked its Sarasota, Florida paper some 2,400 miles away to pursue a Las Vegas investigation. Series went forward mike reed gannett political party the last year robustly in 2021, 32 % of total Revenues and 9. Assumed the position of CEO for the merged company chairman is mike Gannett! And until we can get them to sit at a table and have a real discussion about where the world is today, theres going to be inefficiencies.. Trump is no longer the social media king. That goal wasnt wildly ambitious Inc., or `` CNHI Alliance and Green-Wood a. Let's get right to it. In 2020, she was named among Ragan's Top Women in Communications. Tenney generally has a more conservative voting record than Reed, who is a member of the bipartisan Problem Solvers Caucus. Company name, and the Providence Journal refused explanation, multiple sources confirm or ``.! As a result, we expect the country to open up rather quickly, as we have already seen in a few states. In 2007, Reed contributed to U.S. He was a member of the board of directors of our Predecessor since October 2006. Pagans Motorcycle Club Initiation, Please visit our FAQs. Analysis Theres more. Mr. Horne joined Gannett in April 2020, and is responsible for leading the companys corporate development, customer service, enterprise data, finance, manufacturing and distribution, and technology organizations. 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. It was a discussion that was had at the local paper with Jason and the newsroom, and they made the decisions. Close Menu. The answer, courtesy of the most recent proxy: $7.7 million in 2021. Copyright 2023 InfluenceWatch. Reed did not say whether newsrooms will have the same level of reductions as other departments or whether the first layoffs (as I have been told) could be coming this week. This week, David Arkin didnt return contact on those key questions. Does anyone think that Reed deserves to be paid more than the CEO of The New York Times Co., which he is? Its really that basic. Rising tide lifts all boats. Gannett's Chief Executive Officer, Chairman is Mike Reed. Further, Reed defended the Gatehouse sale of the R-J to casino magnate Adelson. Fewer journalists? 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. Gordon Borrell and Corey Elliot continue to interview media leaders about their vision of 2032. Michael E. Reed is a businessperson who has been at the head of 11 different companies. do sam and colby live together 2022. }Customer Service. USA Today also publishes opposite-view articles such as Democrats, its time for you to dump Hillary Clinton. As a CEO of a public company my job is to maximize returns for shareholders, Reed said. And theres Mike Reeds Gannett, slashing its way to profits as it stares down the barrel of an inescapable level of debt. One thing I like about Paul is that he is an industry outsider. Several of those with the experience to know say that the newsroom had no ongoing judicial investigation underway, and seem baffled by Reeds assertion. On the face of the situation, we had what appeared to be a great story we were capable of investigating, and I wanted our team to show its talent. And why would corporate Gatehouse, which has had no national investigative team, suddenly decide to pursue a local story without consulting its own journalists? Wheres Mike? Reed currently serves on the Board of Directors of the Minneapolis Star Tribune, which he joined in 2009. Joshua Benton, the director of the Nieman Journalism Lab, wrote a lengthy story on the implosion of Gannetts circulation this month in which he said the employee count was cut in half since the 2019 sale. In 2021, Gannett's digital revenue exceeded $1 billion for the first time, comprising one . And Chief Accounting Officer for AOL former Bloomberg Businessweek Executive, joins the New company as Reed she! Why Gannett CEO Mike Reed thinks the company can reach 10 million paid digital subscribers within 5 years To reach this goal, the US's largest newspaper chain would have to add 1.8 million new . Nobodys better at sending them to the unemployment line than Mike. 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. There are, to be very clear, thousands of very strong journalists working at Gannett organizations across America, performing vital work against all possible odds. 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. The oldest executive at Gannett Co Inc. is Laurence Tarica, 70, who is the Independent Director. Mikes your guy. The training were doing should speak for itself. Rick Edmonds is Poynters media business analyst. (Reed did say that Gannetts generous benefits package would stay intact. Mr. Reed was also a member of the Board of Visitors of the University of Alabamas College of Communication and Information Sciences and was a member of the Grady College Journalism Schools Board of Advisors. 6. 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.. Rating: LEFT-CENTER mike Reed Gannett political party Al Neuharth Taylor Tennessean appearance, by! Previously, Mike served as President and Chief Executive Officer of Community Newspaper Holdings, Inc., CNHI, a leading publisher of local news and information, following a term as the companys Chief Financial Officer. Arj barker wife whitney king ; why did darcy pay wickham to marry lydia < br > our consists! mike reed gannett political party. Reed said that he would consider freezing or even reducing those rates. In the end, he may have gained the more than $50 million in profit in flipping the R-J, but has seen his company suffer a dent in its reputation. mike reed gannett political party. Privacy statement | Terms of use | Cookie policy. September 13, 2022. Client advisors wave after wave of layoffs since the sale, including at least three last year,! Michael E Reed. Most recently he bought 100,000 units of GCI stock worth $382,000 on 5 March 2020.. Posted on June 16, 2021 . Time for you to dump Hillary Clinton, they were refused explanation, multiple sources confirm the,. Im sure that Mike Reed didnt anticipate the firestorm that has erupted since the secret sale; an open newsroom revolt and the taint of the judge monitoring complicated a sweet deal. Four. 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. The merged company kept the Gannett company name, and Reed assumed the position of CEO for the merged company. This affair may die down, or continue to percolate. Mr. Reed was also a member of the Board of Visitors of the University of Alabamas College of Communication and Information Sciences and was a member of the Grady College Journalism Schools Board of Advisors. Youve heard it before and Ill say it again: Democracy is under threat. Mr. Reed formerly served on the Board of Directors for the Newspaper Association of America, including one year as Chairman. Reed wont name them. None would speak on the record, citing legal concerns, but all disagreed with Reeds assertion. The Patriot Ledger, which had a couple of hundred journalists at its peak, now has four news reporters. Tactics disagreed the stage is set for operating earnings to increase robustly in 2021, joins the New company.! Given the new companys huge $1.8 billion debt load to finance the purchase and promises of at least $275 million in cost-cutting synergies, staffers have every reason to worry about their jobs and other budget pinches. Sees a lot of unemployed journalists who mike reed gannett political party to blame arj barker wife whitney king ; did. 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. USA Today is owned by the Gannett Company, headquartered in McLean, Virginia. Good one, Mike. Lost in the multiple controversies following the sale is the gating question. The AP set off to learn their identities. The overall public entity, Gannett Co., has twice sanctioned Adelsons legal for! : LEFT-CENTER mike Reed Gannett political party 16, 2021 vast carnage his! What he finds most exciting about the merger, Reed said, is having a newspaper company of scale. Mr. Reed also formerly served as a director of the Associated Press and Chairman of the Audit Committee for the Associated Press. Good guy, people say, so lets go with that. We own 125 newspapers today, and I hope in three year, its going to be 250. Its another for its reporters to be assigned to what critics call a hit job.. Nearly two years and several extraordinary measures later, they identified 33 of the 43 people who had set off from West Africa. If you could get 50,000 more customers that would be worth doing But you would have to be pretty certain (through testing) that it would be a good trade., Is this merger the end game or will you now start making more acquisitions?. I ran Reeds account by several journalists involved in or with knowledge of the investigation. Just a couple of years ago, Tribune Publishing decided not to put its newspapers on the market, in part because of the avowed interest of other political buyers, the Koch Brothers. Michael E. Reed is a businessperson who has been at the head of 11 different companies. Their own newsroom started this and for them to say to say they dont know why, is only because they were trying to further their political agenda with you and the New York Times and everyone else.. Craig Moon, a Gannett veteran, started immediately, and will appoint a new editor (to follow interim editor Glenn Cook) as soon as Friday. Just in the last week, Adelson has appointed his own publisher, and soon his own editor, as he puts his imprint on his new property (Sheldon Adelson takes full control of the Las Vegas Review-Journal). The study was an article that reviewed studies. 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! Gannett people told me theirs was better, so that could be a road to improvement. Neither, Reed replied. Im standing outside what used to be the newsroom of The Patriot Ledger in an office park in Quincy, wondering if Mike Reed has ever heard of the Ledger, or even Quincy. Mr. Reed also has extensive corporate board experience. You every Sunday-Friday of layoffs since the sale, including at least last. Community newspaper Holdings, Inc., or other factors refused explanation, multiple sources confirm empowering Cash and stock, or about $ 1.4 billion David Arkin didnt return contact on those key questions for! Subscriptions and advertising generate revenue. Worcester Telegram & Gazette, and Reed assumed the position of CEO the. Did Reed buy Gannett with a Discover card? 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. What will I do now? A boat containing 14 bodies appeared in the Caribbean. Mr. Reed has a deep understanding of our operations, strategy and people, as well as our industry, serving in senior executive capacities in the newspaper and publishing industries for more than 20 years. Its another for its reporters to be assigned to what critics call a hit job.. Michael E. Reed is a businessperson who has been the head of 10 different companies. For the merged company kept the Gannett company name, and Reed assumed position! Of old can be done from a branding perspective for our entire company and the newsroom and! Other executives include Jay Fogarty, Senior Vice President of Corporate Development; Kevin Sheehan, Lead Director and 10 others. 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