SHOULD I CONGRATULATE OR OFFER CONDOLENCES?
The Tallahassee Democrat is changing hands.
Owner Knight Ridder announced Wednesday that the Democrat was being sold to Gannett, Inc. in exchange for three newspapers; the Idaho Statesman of Boise, Idaho, the Olympian of Olympia, Washington, and the Bellingham (WA) Herald. An undisclosed cash amount was also involved.
Knight Ridder also announced Wednesday that it had sold the Detroit Free Press to Gannett as well in a seperate cash deal. That will mark the rebirth of competition in Detroit between the Free Press and the Detroit News, which KR also sold to MediaNews Group, a Denver-based company which publishes the Denver Post. Only the Free Press will publish a Sunday edition, and both newspapers will be morning delivery beginning early next year.
While Gannett is best known for USA Today, it is the nation's largest newspaper publisher. It's properties in Florida include Florida Today in Melbourne, the Fort Myers News-Press, and the Pensacola News Journal, in addition to two television stations in Jacksonville.
The deal still has to be approved by federal officials to insure it complies with anti-trust laws.
Of course, any major deal such as this means changes in the management team. Patrick Dorsey, who is currently director of finance and group controller for Florida Today, will become the new president/publisher in Tallahassee. Current Democrat publisher Mike Pate will remain with Knight Ridder as a consultant until he retires at the end of this year. Editor Mizell Stewart with also leave to remain with KR. And Senior VP/Marketing John Winn Miller will head west to become publisher of the Olympian.
Gannett is known to have a mixed reputation in the industry. It has in the past tended to act like Clear Channel in the radio biz, squeezing more and more profit out of it's acquisitions for less effort. Let's hope that doesn't happen in the state capitol.
1 Comments:
Offer Condolences.
I worked at the Louisville Courier-Journal when Gannett purchased that paper.
It was a blow form which the paper never recovered. The CJ&T is a shell of its past glory.
Domoni
http://templeofme.com
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