Author archives: John Crouch

GateHouse’s Center for News & Design wins multiple national awards

9.03.2016 John Crouch Awards

GateHouse Media would like to congratulate all of its Center for News & Design winners at the Local Media Association’s Excellence in News Coverage awards.

Winners come from GateHouse Media’s Center for News & Design in Austin, Texas, and include the following:

Best Front Page – Newspapers Only
First Place
Becca McGovern

Best Front Page – Newspapers Only
Third Place
Becca McGovern

Best Front Page – Newspapers Only
Honorable Mention
Ariana Torrey

Best Non-Page-One Layout – Newspapers Only
Second Place
Ariana Torrey

Best Use Of Graphics
First Place
Ariana Torrey

Best Use Of Graphics
Second Place
Fred Matamoros

Best Use Of Graphics
Honorable Mention
Gabriel Utasi

For more information, visit bit.ly/1p65p9k.

GateHouse Media names Adam Reinebach as CEO and President of Dolan Publishing group

GateHouse Media is thrilled to announce that Adam Reinebach, an accomplished senior executive in business-to-business (B2B) publishing, will serve as CEO and President of our Dolan Publishing group. Reinebach will start in his new role on February 8, 2016.

Reinebach is an experienced sales, marketing and technology executive with 20 years of success in the B2B media and information space. Before launching Responsive Partners, a digital consultancy specializing in B2B turnarounds, Reinebach was EVP and Managing Director at SourceMedia where he ran the company’s professional services brands and its paid subscriptions business. SourceMedia is a diversified B2B media company serving senior professionals in the financial, technology, and healthcare sectors. During his nine years there, Reinebach also ran technology, circulation marketing and the custom solutions group.

Prior to SourceMedia, Reinebach was a Vice President at Thomson Financial, where he was publisher of their private equity brands, and ran the research and data group at Venture Economics. A frequent blogger and trained journalist, Reinebach started his B2B media career as a reporter for Investment Dealers’ Digest. Reinebach is a graduate of Rutgers University.

Dolan Publishing Group, a recent GateHouse Media acquisition, is comprised of 39 print and online publications and is a leading provider of industry-specific news for the legal, financial, real estate, and government affairs sectors in the 17 markets it serves across the U.S. The business also develops, organizes and produces over 100 events centered on awards and education seminars.

“I anticipate that B2B publishing will present exciting growth opportunities for our company through both acquisitions and our ability to accelerate their growth via digital marketing services (Propel),” said GateHouse Media CEO Kirk Davis.

GateHouse Media, LLC and Poynter Institute to Launch Professional Development Initiative

GateHouse and Poynter worked together to create detailed professional development programs, targeting specific journalism skills. The 2016 certificate programs will focus on digital newsgathering, social media and newsroom leadership skills. The courses will include online instruction from Poynter digital innovation faculty member Katie Hawkins-Gaar and industry experts such as three-time Pulitzer Prize-winning New York Times reporter David Barstow.

“We’re thrilled that our journalists will receive this world-class training from Poynter,” said David Arkin, Senior Vice President of Content & Product Development for GateHouse Media. “We expect this training will further our newsrooms’ knowledge of emerging digital and social tools, reinforce our commitment to in-depth and enterprise journalism, and strengthen our newsroom leadership.”

“We’re honored, indeed, that GateHouse chose Poynter to help the company meet its strategic goals around journalism training,” said Poynter President Tim Franklin. “The program is specifically tailored for GateHouse staff to give their journalists the tools they need to make GateHouse publications even more relevant in the digital age.”

All GateHouse Media staff will have access to the training, which is available online through Poynter News University (www.newsu.org), the world’s largest journalism e-learning site. To receive a certificate, GateHouse staff must take a selection of NewsU courses and then successfully complete the assessment for each.

Peter Newton Adds Role of GateHouse Media, LLC Chief Revenue Officer to Current Responsibilities

PITTSFORD, N.Y.–(BUSINESS WIRE)–GateHouse Media, LLC has named Peter Newton as its Chief Revenue Officer. In addition to his current role as CEO of Propel Business Services, Inc., Newton will also lead the Company’s corporate advertising and consumer marketing functions. Newton’s appointment is effective January 11, 2016.

“In this expanded role, Peter will continue to guide our broader business services strategy. Additionally, his dual responsibilities will enable increased alignment between our developing network of ventures and our field sales operations, as we work together to grow new revenue streams,” said Kirk Davis, CEO of GateHouse Media. “As the architect of Propel Marketing’s revenue and organizational growth, Peter has consistently provided strong counsel, support and vision, as we have worked to evolve the digital acumen and accountability of the GateHouse Media field sales organization.”

Newton joined GateHouse Media in 2012 to lead Propel Marketing, the Company’s digital marketing services agency. In 2015, Newton was promoted to CEO of Propel Business Services, which includes Propel Marketing; BestRide, the Company’s national automotive platform; AdUs, the Company’s digital agency in Las Vegas; and, a recent addition, Propel Business Capital, a small business lending venture. Propel Business Services continues to actively evaluate other investment opportunities.

Prior to GateHouse Media, Newton’s background included significant leadership experience in both traditional media and the digital space, with a particular focus on SMB products and services. Newton served as VP of Sales at The Boston Globe, President of its niche employment business, BostonWorks; and SVP and GM of Monster’s small and medium business segment.

“I look forward to helping GateHouse develop high performing B2C and B2B sales organizations across all their markets,” said Newton. “Talent, training and process; strategic use of data; and culture will all be essential elements.”

See this story as it originally appears in Business Wire.

GateHouse Media parent company to purchase Times Publishing Company

ERIE, Pa. — The Times Publishing Company has entered into an agreement to sell the Erie Times-News and GoErie.com to an entity controlled by New Media Investment Group Inc. The transaction is subject to approval by the shareholders of Times Publishing Company, among other conditions.

New Media expects to close the sale early in 2016.

Terms of the deal were not immediately disclosed.

New Media is the New York-based holding company of GateHouse Media, LLC, which controls 575 community publications across 32 states.

The Times Publishing Company has been owned in part or in total by members of the Mead family since it was founded 127 years ago.

“The Meads have been good stewards of this community institution,” said Ken Nelson, publisher of the Erie Times-News. “But the industry, and this newspaper, have evolved to the point where family-owned, independent newspapers face too many hurdles to survive long term without help.”

New Media offers new resources and economies of scale that will allow the institution to endure, Nelson said.

“Though the Mead family is leaving the newspaper business, the business will remain,” Nelson said. “We will continue to be the region’s dominant source for news for years to come.”

Read this piece as it originally appeared on GoErie.com

New Media completes sale of Las Vegas Review-Journal, acquires two media assets

NEW YORK, N.Y. December 11, 2015 – New Media Investment Group Inc. (“New Media” or the “Company”, NYSE:NEWM) today announced the sale of DB Nevada Holdings, Inc., publisher of the Las Vegas Review-Journal (“the Review-Journal”) and concurrently announced the agreement to acquire two local media assets in separate transactions.

Completed the sale of the Review-Journal and related publications for $140 million, or 7.0x LTM pro-forma As Adjusted EBITDA
Announced an agreement to purchase the Business Information Division of Dolan LLC (“Dolan” or “the Dolan assets”)
Reached an agreement to purchase substantially all of the publishing operations of a dominant, local daily newspaper
Pro-forma for all three transactions, New Media’s LTM As Adjusted EBITDA and free cash flow remains largely the same as reported in Q3 2015 at approximately $185 million and $144 million, respectively.

The three transactions together will result in an increase of over $90 million of cash to the balance sheet

Over the next 12 months, New Media expects to have deployable capital which could add approximately $1.65 of incremental free cash flow per share, without raising additional equity, if invested at multiples generally consistent with our prior acquisitions(1)

“We are thrilled to announce these three transactions and believe they demonstrate our continued commitment and ability to generate substantial returns for our shareholders,” said Michael Reed, New Media’s President and CEO. “Although we are a net acquirer of local media businesses, we will opportunistically pursue transactions that are in the best interest of New Media’s shareholders.

“To date, New Media has announced 12 acquisitions for over $635 million, and more importantly, has remained a disciplined buyer of local media assets. Our portfolio, including the two announced purchases, has an average multiple of 3.9x the seller’s LTM As Adjusted EBITDA. Given our increased liquidity and our established track record of sourcing, valuing, integrating, and operating local media assets, we believe New Media is well positioned to continue to execute on all aspects of our strategy.”

Completed Sale of the Review-Journal and related publications for $140 million

New Media completed the sale of the Review-Journal and related publications to News + Media Capital Group LLC for $140 million, or 7.0x LTM pro-forma As Adjusted EBITDA. The sale, which was completed on December 10, 2015, will result in an estimated 69% gain on the transaction(2).

Michael Reed commented, “The Review-Journal continues to be the preeminent newspaper in Las Vegas providing in-depth coverage of community news. Over the past nine months, it has been a privilege working with the Review-Journal’s employees, and we know their award-winning journalistic reputation will continue under the new ownership.

“Although New Media was not actively looking to sell the newspaper, the decision was in the best interest of our shareholders. Looking ahead, we continue to believe we can execute on our acquisition strategy, acquiring local media assets at 3.5x to 4.5x the seller’s LTM As Adjusted EBITDA, despite the premium multiple being paid for a prized asset such as the Review-Journal.”

“We are delighted to have acquired the Review-Journal,” said Michael Schroeder of News + Media Capital Group LLC. “The Review-Journal is the leading newspaper in Las Vegas and Nevada, and we look forward to working with New Media to continue to grow this great publication. We believe good journalism is good business.”

New Media has been engaged by News + Media Capital Group LLC as the manager of the newspaper assets; however, terms of the management agreement have not been disclosed.

Announced an agreement to acquire the Business Information Division of Dolan LLC

Dolan, comprised of 39 print and online publications, is a leading provider of industry-specific news for the legal, financial, real estate, and government affairs sectors in the 17 markets it serves across the U.S. In addition to providing subscribers with content relevant to their daily professional activities, Dolan also develops, organizes, and produces events centered on awards and education seminars. Dolan’s audience of over 46,000 paid subscribers includes attorneys, judges, property owners, building contractors, and other business professionals.

“We are pleased to announce the agreement to acquire the Dolan assets and see a tremendous opportunity to leverage its publications and subscriber base across New Media’s footprint,” said Michael Reed. “In addition to the valuable content Dolan provides to its readership base, we believe their subscribers, which are predominately service oriented business owners, are the ideal customer for our fast-growing digital services business, Propel Marketing.”

Houlihan Lokey served as exclusive financial advisor to Dolan.

New Media anticipates both Dolan and the other local daily newspaper acquisition will close at the end of 2015 or in early 2016, subject to customary closing conditions; however, there can be no assurance as to the timing or the occurrence of either closing.

About New Media Investment Group Inc.

New Media is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses. The Company is one of the largest publishers of locally based print and online media in the United States as measured by our 125 daily publications. As of September 27, 2015, the Company operates in over 490 markets across 32 states. New Media’s portfolio of products, as of September 27, 2015, include over 575 community publications and over 490 related websites, serve more than 215,000 business advertising accounts and reach over 22 million people on a weekly basis. For more information regarding New Media and to be added to our email distribution list, please visit www.newmediainv.com.

Blend elementum consequat lacus, sit amet pulvinar urna hendrerit sit amet. Sed aliquam eu ante a ultricies. Interdum et malesuada fames ac ante ipsum primis in faucibus. Fusce elementum felis lorem, eget scelerisque enim blandit quis.

Massa turpis ornare nec commodo non, auctor vel cursus vestibulum varius hendrerit turpis quiseam cursus.