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New Media Investment Group

GateHouse Media, Inc.
Public
Traded as NEWM
S&P 600 Component
Industry News media
Predecessor Liberty Group Publishing
Founded 1997 (1997)
Founder Kenneth L. Serota
Headquarters Perinton, New York
Area served
United States
Key people
Michael E. Reed, CEO
Wesley Edens, board chairman
Products 87 daily newspapers
271 weekly newspapers
111 “shoppers”
over 260 locally-focused websites
seven yellow page directories
Revenue DecreaseUS$559 million (2010)
Increase US$43 million (2010)
Increase US$(26 million) (2010)
Total assets Decrease US$546 million (2010)
Total equity Decrease US$(792 million) (2010)
Owner Fortress Investment Group LLC (39.6% equity) (2010)
Number of employees
Decrease 5,239 (2010)
Website gatehousemedia.com

GateHouse Media Inc. (formerly Liberty Group Publishing), former symbol on OTC Markets Group's OTCQB tier GHSE, is a U.S. newspaper publisher, headquartered in the town of 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.

The company filed for Chapter 11 bankruptcy on September 27, 2013. It reemerged from the preplanned bankruptcy in November 2013. In the restructured plan Gatehouse stock was cancelled and a new holding company for the parent -- New Media Investment Group, Inc. was formed (: NEWM).

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.

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.

It was renamed GateHouse and its headquarters moved to suburban Rochester, New York in April 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. By the end of the year, the company had also announced it would acquire Journal Register Company's properties in southeastern Massachusetts.


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