Michael Reed, also with professional experience managing in the newspaper industry, is the CEO of New Media and was previously the CEO of GateHouse. Beavers both agreed the cartoon bias had occurred and recounted her discussions with the GateHouse Media staffer responsible for shared content such as the cartoons. Copyright 2023 The New Daily. While Fortress doesnt own NEWM, its management drove the companys astounding growth after the GateHouse bankruptcy in 2013. Please try again. Critics of such management contracts point to the increased overhead they bring to news enterprises that badly need reinvestment. In August 2019, it was announced that New Media Investment Group had reached an agreement to merge Gannett into GateHouse Media. In comparing the data, the researchers found that fund managers who leaned Republican were more highly allocated toward companies that veered the same way about 8% higher in the average share of total net assets compared with Democratic-leaning fund managers. AllSides has rated over 1,400 sources. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. And the answer to that question is yes, the researchers found. Retrieved May 2, 2023, from https://www.niemanlab.org/2017/02/newsonomics-softbank-fortress-trump-and-the-real-story-of-gatehouses-boundless-ambition/. Labor maintained its two-party-preferred vote lead of 53-47 which would equate to the loss of 10 seats for the Coalition. Political Alienation Driving Voter Involvement? The answer, of course, isnt singular. Photo of Donald Trump and SoftBank CEO Masayoshi Son at Trump Tower December 6, 2016, by AP/Andrew Harnik. Center-rated outlets may omit important perspectives. Join the 60,000 who get the freshest future-of-journalism news in our daily email. Direction of Country President and Fellows of Harvard College, unless otherwise noted. On Jan. 12, Randall Stephenson, CEO of AT&T and would-be acquirer of CNN through its in-progress Time Warner purchase, paid a visit. Individuals in these two groups are naturally on different sides of the political aisle, but in many cases, they diverge even from other members of their own party. Institutional and mutual fund shareholders, including Vanguard, T. Rowe Price, Wells Fargo, and Black Rock Fund own at least 70 percent of the company. We can do the math on what the financialization of these community papers has meant, from Massachusetts to California. For that work, it gets paid, and well do that math below. The Australian reports its Newspoll revealed a large number of voters still leaning towards minor parties and independents, which command a combined 26 per cent of the vote. At the Labor launch in Perth on Sunday, Mr Albanese revealed his medicines price cut would be $12.50. Answer: Don't. While money and politics have always . Media Bias Chart: Through the Years AllSides Media Bias Chart AllSides Media Bias Ratings make the political leanings of hundreds of media sources transparent so that you can get the full picture and think for yourself. Of the 30 media outlets studied, 17 were found to have left-leaning audiences, ranging from MSNBC and CNN to Politico and PBS. Biden Job Approval "Its not a deal that anybody loves, but its a deal that most of the players believe is the bestpossible one at the moment," he said. 13 It also has 331 weekly newspapers, and in total has a print media footprint in 37 states. Will they stand up for our Inflation is the top issue for voters, who expressed pessimism about the economy. In fact, with Softbanks leading edge now becoming its $100 billion tech-future-oriented Vision Fund, this old-world management contract would seem to be something of a (profitable) anomaly. professor of finance, University of Kansas School of Business, What 20 years of equal-weighted indexes that try and improve on the S&P 500 show, Politics is hindering the effectiveness of financial education, Joe Biden used this strategy to trim his tax bill. And he assured me they are now looking into a more conservative cartoonist to add to the mix. 39. Doctor, Ken. (Details about the two studies can be found in the methodology.). Arthur said. These divides are even more pronounced between conservative Republicans and liberal Democrats. In 2015, critics raised questions of journalistic ethics and transparency when Reed sold the Las Vegas Review-Journal to News Media Investment Group, a Delaware-based firm that did not disclose its ownership. Just since the beginning of the year, numerous GateHouse papers have cut more newsroom staff in the single digits at smaller newsrooms as far-flung as the Springfield (Ill.) Register, Lakeland (Fla.) Ledger, Erie (Pa.) Times and Quincy (Mass.) Launched on 9/1/2020, NewsNation Now was a nightly 3-hour-long news program broadcast on WGN America. It allows us to have a more educated, more highly paid person doing that work, sitting in Austin and spreading that across a few markets. Doug Arthur, a financial analyst who covers mediawith Huber Research Partners in Connecticut, saidthe vote should be "relatively straight forward," with investors signing off on the deal. 7, GateHouse daily newspapers editorial positions may be right-of-center or left-of-center, depending upon the newspaper. Approval of Mr Morrisons performance lifted five points to his strongest position of the year, with a satisfaction rating of 44 per cent and a dissatisfaction rating of 51 per cent. "Newsonomics: Softbank, Fortress, Trump and the real story of Gatehouses boundless ambition." Copyright 2023 InfluenceWatch. That means we publish a wide range of analysis, opinion . Gannett shares closed at $9.84 on Wednesday, down from $10.72 on Aug. 5. USA Today was moved from "Center" to "Lean Left" in July 2021 after an AllSides Editorial Review. Additionally, 60% say they got political or election news there in the past week. But Fortress doesnt own New Media; its actual holding of about 74,000 shares out of New Medias 53 million amounts to less than 1 percent of the company. President Biden walked on stage in the dark of the Howard Theatre and declared the coming midterms, then just three weeks away, "the most consequential election in our history." New Media seeks to become a trusted local business in the communities where it purchases publications, and then leverage this connection to sell human resources, information technology, marketing and other services to local small- and medium-sized firms. Among all Democrats, the portion citing CNN is roughly the same, while NPR as a main source falls to 8%. There is also evidence that suggests that these partisan divides have grown over the past five years, particularly with more Republicans voicing distrust in a number of sources. For Fortress, newspapers now a classic distressed industry offered a chance for good profit, using the reliable roll-up-and-cut methodology at the root of its industry. After relentlessly teasing the possibility for the better part of two years, and in the wake of a historically poor midterm performance by Republicans, Donald Trump finally launched his third As the saying goes, the definition of insanity is doing the same thing again and again and expecting a different result. Only featured sources are shown by default. This private investment firm, formed in 2009, is a partnership between 10K Investments, owned by two Reno, Nevada, businessmen, and 13th Street Media, owned by Randy Miller, who previously owned the Boulder (CO) Daily Camera before selling it to E.W. We use multipartisan analysis to reflect the average view of Americans. Over the weekend, Knight Foundation veteran Eric Newton asked a profound question on Twitter: Have news media CEOs said anything about a president who loudly accuses their people and companies of dishonesty?. The universes of outlets with right-leaning audiences and left-leaning audiences reflect another major finding from the media polarization report. You can also find the questions we asked, and the answers the public provided, in this topline. New Media Investment Group Inc has a market cap of $526.790 million; its shares were traded at around $8.71 with a P/E ratio of 435.50 and P/S ratio of 0.33. They plan to shed $275 million to $300 million in overlapping costs per year within 18 to 24 months and use their combined power to pursue a "digital transformation" predicated on innovative marketing services, online advertising and paid subscriptions. His words. Republicans and Republican-leaning independents who get news only from outlets with right-leaning audiences tend to be older and more likely to attend religious services than Democrats and Democratic leaners who get news only from outlets with left-leaning audiences. A day after Mr Albanese accused him of neglecting older Australians, Mr Morrison is set to announce an increase in the singles income test threshold from $57,761 to around $90,000 from July 1 this year to broaden access to the concession card. In total, 20% of all Democrats and independents who lean Democratic get political news only from outlets with left-leaning audiences. Moreover, evidence suggests that partisan polarization in the use and trust of media sources has widened in the past five years. In Newspoll, conducted for The Australian newspaper, primary support for Labor rose one point to 38 per cent after stabilising from a downward trend before the election. The dividend yield of New Media. In this study, we take a snapshot of the news outlets people rely on and trust for news about politics and the upcoming national elections. They also are likely to live in the same geographic areas. 9 10 The firm was formed in 2013 to restructure $1.2 billion of debt and restructure newspaper publisher GateHouse Media following Chapter 11 bankruptcy. Acknowledgments: The Election News Pathways project was made possible by The Pew Charitable Trusts. The combined entity would be the biggest U.S. media company by print circulation and could vie for the largest monthly online news audience, nearing top-ranked CNN, according to traffic measurement firm Comscore. | first = Ken The new company would take on the Gannett name and headquarters in McLean, Virginia. Gannett generated revenue of$2.92 billion in 2018, compared with GateHouses $1.53 billion. Shareholders of USA TODAY owner Gannett andNew Media Investment Group are poised to determine whether the two companieswill combinein a deal that would reshape the media landscape amid a tumultuous transition from print to digital. House Polls Center-rated outlets may omit important perspectives. The partisan gaps become even more dramatic when looking at the parties ideological poles conservative Republicans and liberal Democrats.1 About two-thirds of liberal Democrats (66%) trust The New York Times, for example. 0:04. Answer: Don't. There are multiple reasons these biases can crop up. GateHouse Media owner to acquire USA TODAY owner Gannett, Gannett acquirer New Media Investment Group reports revenue decline, digital boost, Your California Privacy Rights/Privacy Policy. And while 20% of those Republicans say they never attend services, a much larger share of those Democrats 47% say they never attend services. It would be hard to overstate its connection as a trusted go-to source of political news for Republicans. In this ever-toughening local newspaper environment, even New Media Investment Group walks a thin tightrope, further proving that single-class public companies serve the needs of transitioning news efforts poorly. Retail investors, consequently, may not always be fully aware of what they're buying. How do you think the bias of this source should be rated? Another way to look at the diverging partisan views of media credibility: Almost half of the sources included in this report (13) are trusted by at least 33% of Democrats, but only two are trusted by at least 33% of Republicans. Meanwhile, Republican-leaning fund managers invested 3% less of their total net assets in Democrat-oriented companies compared with Democratic-leaning fund managers. Merger details: GateHouse Media owner to acquire USA TODAY owner Gannett, Earnings: Gannett acquirer New Media Investment Group reports revenue decline, digital boost. Respondents were asked if they got political and election news in the past week from 30 different sources representing a range of news media across different platforms. Admittedly, not all fund managers have a political bias. "There is a consistent pattern that fund managers are likely to invest more in firms with leadership that have ideology that's similar to theirs," Xi said. In Newspoll . Newsonomics: Softbank, Fortress, Trump and the real story of Gatehouses boundless ambition. All of the papers the Guild represents that are owned by GateHouse have not had their wages increased in 8 to 10 years, says Melissa Nelson, director of collective bargaining for the NewsGuild-Communication Workers of America. Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. The cable network is also Democrats most commonly turned to source for political and election news, with about half (53%) saying they got news there in the past week. We can actually improve the editing and design of the paper, and therefore the quality of the output can be better [from] Austin than it can be locally., Reed also argues the economies of scale of running many publications allows content sharing across the news providers, improved local content and other efficiencies the papers could not provide when they were independent organizations: 32, Scale matters, and the more that we have, the better the opportunity becomes for us to execute on our operational strategy which, in turn, makes all of these individual newspapers better and stronger and able to do more local journalism and investigative journalism., GateHouse operates a National Data & Investigations Team to provide some of this content sharing. GateHouse made a contract proposal for retroactive medical and dental increases or a corresponding pay reduction, if the employee so chooses. Mutual funds are caught in the middle of one of the most contentious issues in American politics: Spending by big business to gain influence in Washington. 1:02. This initiative is a collaborative effort based on the input and analysis of a number of individuals and experts at Pew Research Center. Far Left Its unclear how much stamina NEWMs investors will have for the strategy, though. Traditionally, the Heritage Foundation writes policy papers. "Individuals have preferences, life experiences, and one of those preferences that may affect their decision-making is partisan bias.". 16 In 2013 GateHouse was restructured in a chapter 11 bankruptcy, with New Media created by GateHouses then-creditors to become the new owner. New Media shareholders would own 50.5% of the combined company, while Gannett stockholderswould own 49.5%. As of April 2019, it listed seven current staffers and an open hiring solicitation to fill slots for regional editors, investigative reporters, data researchers, videographers, and copy editors. 27 This division posted revenue of $45.7 million in 2018, an increase of 58 percent over 2017. The chain GateHouse Media Inc., which owns small-town dailies and weeklies in 36 states, has been at least until recently also controlled by a New York hedge fund, Fortress Investment Group and its subsidiary, Newcastle Investment Corp. New Media, with assets of $1.3 billion, is a relative pimple on the body Fortress' $70 billion in asset management. Over three-quarters of the electorate are now absolutely committed to their vote, and were increasingly seeing people locking in as early voting nears, Resolve director Jim Reed told the newspapers. Theres rich irony here: The retirement funds of those in the news industry, among many others, helps fund these New Media takeovers, which in turn result in more job cutbacks and the thinning of journalism in communities from coast to coast. Labor held a clear lead of 54 to 46 per cent over the Coalition after preferences. Latest Election 2022 Polls Battle for Senate Battle for House Governors 2020 Midterm Match-Ups Liberal Democrats are Democrats and independents who lean toward the Democratic Party who say they are liberal or very liberal. It conducts public opinion polling, demographic research, media content analysis and other empirical social science research. Among Republicans who get news only from outlets with right-leaning audiences, men outnumber women 55% to 45%, while women outnumber men 54% to 45% among Democrats who get news only from outlets with left-leaning audiences. Doctor, K. (2017, Feb. 23). What Does Early Voting Tell Us? "Newsonomics: Softbank, Fortress, Trump and the real story of Gatehouses boundless ambition." Both companies have said they want to pay off the debtquickly. Gannett had about 16,980 employees at the end of 2018, while GateHouse had about 10,638 employees, according to their securities filings. Lets be clear: Management determines how much journalism their journalism companies actually produce. Voters say they see the election as a way to send Biden a message. (+1) 202-419-4372 | Media Inquiries. 1615 L St. NW, Suite 800Washington, DC 20036USA Numbers, Facts and Trends Shaping Your World, details about the ideological composition of news outlets audiences, the full data on feelings toward Donald Trump, From feelings about Trump to reliance on a single main source of political news, big differences by media diet, Democrats in a left-leaning audience news bubble tend to be younger, more educated, less religiously observant, Americans in news media bubbles think differently about foreign policy than others, About one-fifth of Democrats and Republicans get political news in a kind of media bubble, Views about Ukraine-impeachment story connect closely with where Americans get their news, U.S. Media Polarization and the 2020 Election: A Nation Divided, What the data says about Americans views of climate change, Podcasts as a Source of News and Information, AI in Hiring and Evaluating Workers: What Americans Think, Americans confident in Zelenskyy, but have limited familiarity with some other world leaders, How Public Polling Has Changed in the 21st Century. Nieman Foundation for Journalism at Harvard, 23 Feb. 2017. A half-hour's drive from where the modern oil and gas industry was born, a new power plant provides a glimpse into one possible future for fossil fuels. USA Today American daily newspaper that provides both news and entertainment coverage. AllSides has rated over 1,400 sources. To finance the deal, New Media is borrowing $1.8 billion from private equity firm Apollo Global Management. (See here for details about the ideological composition of news outlets audiences.).
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