New Media Investment Group
 |
|
| Public | |
| Traded as | : NEWM S&P 600 Component |
| Industry | News media |
| Predecessor | Liberty Group Publishing |
| Founded | 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 |
 US$559 million (2010)
|
 US$43 million (2010)
|
|
|
US$(26 million) (2010)
|
|
| Total assets |
US$546 million (2010)
|
| Total equity |
US$(792 million) (2010)
|
| Owner | Fortress Investment Group LLC (39.6% equity) (2010) |
|
Number of employees
|
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.
...
Wikipedia