Daily Commercial
| Format | Berliner |
|---|---|
| Owner(s) | New Media Investment Group |
| Publisher | Steve Skaggs |
| News editor | Tom McNiff |
| Sports editor | Paul Jenkins |
| Founded | 1875 |
| Headquarters | 212 East Main Street Leesburg, Florida 34749 US |
| Website | www |
The Daily Commercial is a daily newspaper distributed in Lake and Sumter counties, Florida. It was founded in 1875.
The Daily Commercial was acquired by members of the Cowles family in 1969.The New York Times Company acquired the paper in 1971 and sold it in 1995 to Better Built. HarborPoint Media acquired the Better Built papers in 2004, and owned the Daily Commercial until 2013, when it was acquired by Halifax Media Group. In 2015, Halifax was acquired by New Media Investment Group.
The Daily Commercial prices are 50 cents daily; $1.00 Sunday.
This section will discuss the merging of distribution centers and the re-contracting of the carriers, rather, the corporate streamlining that is typical of conglomerates that skim money from companies by way of "downsizing" and "cost cutting moves" from companies for the benefit of a few very high level personnel only. Both of the parent companies have a dubious history of this that includes bankruptcies that were "designed" with this in mind:
On September 4, 2013, News Corp announced that it would sell the Dow Jones Local Media Group, a group of 33 local newspapers, to Newcastle Investment Corp.—an affiliate of Fortress, for $87 million. The newspapers will be operated by GateHouse Media following the purchase. CEO Robert James Thomson indicated that the newspapers "were not strategically consistent with the emerging portfolio" of the company, which had been formed as a spin-off of News Corporation.
On September 27, 2013, the company filed Chapter 11 bankruptcy in U.S. Bankruptcy Court in Wilmington, Delaware. It listed assets of $433.7 million and debt of $1.3 billion. The preplanned bankruptcy centers on restructuring the Fortress News Corp deal. Fortress owns 52 percent of GateHouse debt. A Fortress unit FIF III Liberty Acquisitions LLC merged with Gatehouse in 2005. The case is GateHouse Media Inc., 13-bk-12503.
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