American Post Press News:

Wichita Eagle dropping Saturday print

“The Wichita Eagle will no longer publish a Saturday paper staring in fall, the paper announced Aug. 14.

Start­ing on Nov. 16, the paper will no longer pro­duce a printed news­pa­per on Satur­days and will launch a week­end edi­tion that in­cludes ex­panded pa­pers on Fri­days and Sun­days, said a note to readers from Gen­eral Man­ager Dale Sei­w­ert.

Subscription prices will remain the same, according to kake.com.

“More and more of our cus­tomers are en­gag­ing with our lo­cal jour­nal­ism on­line. This is not only a trend in Wi­chita, it is a wide­spread trend in the me­dia in­dus­try, and in fact, all in­dus­tries,” the note read.

Sacramento-based McClatchy owns the paper. Other McClatchy papers have recently dropped Saturday print, including the Myrtle Beach Sun News (South Carolina), The Herald-Sun (Durham, North Carolina) and the Bellingham Herald (Washington state), the Kansas City Business Journal pointed out.”

Source: News&Tech, 2019

Layoffs at GateHouse papers

“There were layoffs mid-August at GateHouse papers, Poynter reported.

A minimum of four papers cut staff, including the Oklahoman in Oklahoma City, the Palm Beach Post, the Cape Cod Times and the Worcester Telegram & Gazette (Massachusetts), Poynter reported. The layoffs numbered to around 19, with the Oklahoman seeing 14, according to Poynter.

GateHouse is working with Gannett on a proposed merger that would result in an operation with over 260 daily news operations.

GateHouse owner New Media is managed by Fortress Investment Group, which is owned by Tokyo-based Softbank.

GateHouse and Gannett shares fell after the announcement of New Media’s acquisition of Gannett.

USA Today parent Gannett and GateHouse filed materials with the SEC last week in an effort to promote their case for the merger, USA Today reported. The merger has hit potential snags, USA Today and the New York Post reported.

The layoffs come after a second quarter earnings report, released in August, showed revenues on a same property basis fell 6.9 percent at New Media year-to-year. Both Gannett and GateHouse saw a profit for the quarter with help from expense cuts.”

Source: News&Tech, 2019

Ogden Newspapers buys some Vindicator assets

“An agreement has been reached for the Tribune Chronicle (Warren, Ohio) to acquire The Vindicator’s subscription list, The Vindicator masthead and the Vindy.com domain, Mark Brown, general manager of The Vindicator, announced on Aug. 16. John Cribb, Cribb, Greene & Cope, represented the Mark Brown Family and The Vindicator (Youngstown, Ohio) in the transaction.

The agreement clears the way for the Tribune Chronicle to produce an edition under the name of The Vindicator, and the Tribune Chronicle has agreed to provide a newspaper for the remainder of the unexpired term of all subscribers of the Vindicator.

The owners of The Vindicator announced on June 28 that the newspaper would cease publication on Aug. 31, citing unprofitability for several years. The Tribune Chronicle announced on July 2 that it would attempt to fill the void left by the closure of The Vindicator by publishing a Mahoning County edition beginning Sept. 1.

Combining the Trumbull and the Mahoning editions of the Tribune Chronicle will provide advertisers with a combined reach of nearly 50,000 households, a news release from Cribb, Greene & Cope said. Youngstown now will not be the largest city in Ohio without a daily newspaper, the release said.”

Source: News&Tech,2019

American City Business Journals buys BizEquity

“American City Business Journals has acquired majority ownership of BizEquity, a provider of cloud-based business valuation tools and private business data.

As part of the transaction, ACBJ will make a significant capital investment in BizEquity to accelerate its growth, according to a ACBJ news release.

BizEquity’s patented software-as-a-service platform helps business owners value their businesses in real time, the release says. More than 625 financial institutions and 2,500 wealth advisors use BizEquity, headquartered in Philadelphia, to prospect for clients and engage with business owners to help them understand critical business valuation information, the release says.

“Our business journals are trusted sources of information in 43 U.S. cities,” said Whitney Shaw, ACBJ CEO. “Historically, our primary service has been providing breaking local business news to people in those markets. We remain committed to that important service. Through BizEquity, we can enhance our core offering by giving additional, valuable information and insights to businesses of all sizes and to the professionals who serve them.”

Terms of the agreement were not disclosed.

ACBJ owns 40 business publications online and in print across the country. ACBJ is headquartered in Charlotte, North Carolina, and is part of Advance, a private, family-owned business.”

Source: News&Tech, 2019

Xerox Staff Down by 4,500

“It has been estimated that approximately 4,500 job have been eliminated so far this year at Xerox. The eliminations came through  attrition, layoffs, and a new outsourcing agreement. The outsourcing agreement announced in March with HCL of New Delhi, India, could cost up to 6000 jobs.

Xerox’s world wide  workforce is now estimated to be about  28,000 , down from last year’s 35,000 employees. In 2016, it was reported that Xerox’s world wide  workforce was about  144,000 employees.

Xerox scrapped a  deal last year to merge with  Fujifilm  after it ran into strong opposition from activist investors Carl Icahn .Since then, Xerox has  streamline its operation  under the new management led by CEO john Visentin, .”

Source: PrintCan, 2019 

Canadian Post-Press News: 

Solisco acquires Norecob

“Solisco, a leading Canadian printer, announces its acquisition of Norecob. Following the transaction, this company based in Scott, in the Beauce region, now owns a second in plant Saint-Jules. The merger increases Solisco’s productivity while growing its workforce from 340 to nearly 400 employees.

A strategic acquisition

As part of its expansion plans, Solisco wanted to acquire a printing company that shared its vision and values. Norecob, also in the Chaudière-Appalaches region, provided the perfect opportunity.

Besides showing a strong commitment to quality, efficiency and customer service, the printer located in Saint-Julesexcelled at the same specialties as Solisco: catalogues, books, magazines and promotional material. Moreover, its proximity would facilitate the management of the two sites.

A growing company

This additional facility increases Solisco’s capacity with its printing and binding equipment, as well as the proven expertise of its 60 employees.

“Solisco is on the rise, and we are poised to seize promising opportunities to grow our market share”, says president Alain Jacques. Thanks to our expanded production capacity and the great talent of our people, both old and new, we continue to aim higher.”

A seamless transition

The recent acquisition entails two changes to Solisco’s management. Marie-Claude Laberge becomes Vice-President of Culture and Organization, which leads her to hand over the reins of operations to Pierre McCann. Norecob’s former president will therefore bring more than 30 years of experience to his new position as Solisco’s Vice President of Manufacturing Operations.

About Solisco

Founded in 1991, Solisco is a leading Canadian printing company with expertise in print and distribution, as well as content strategy and graphic design. It employs nearly 400 people who contribute to the success of its growing clientele in Quebec, Canada and the United States.

SOURCE Solisco Imprimeries”

 

Source: Cision, 2019

 

Quebec forks out $5M in aid as major newspaper chain seeks bankruptcy protection

“The Quebec government says it will invest $5 million in a French-language newspaper chain that sought bankruptcy protection Monday.

Le Groupe Capitales Médias owns daily newspapers in some of Quebec’s largest markets, including Quebec City’s Le Soleil, Le Droit of Gatineau-Ottawa and Trois-Rivières’s Le Nouvelliste.

The newspaper chain was founded by former federal Liberal cabinet minister Martin Cauchon. Its financial difficulties had been widely known for several weeks.

In announcing the financial aid, the provincial government stressed the important role the newspapers play in Quebec society.

“It’s impossible to envision the closure of six newspapers,” said Economy Minister Pierre Fitzgibbon.

Fitzgibbon also said Cauchon had resigned as CEO of the newspaper chain and a restructuring process will begin shortly.

News of Groupe Capitales’s intention to file for bankruptcy protection prompted an emergency meeting of the provincial cabinet on Monday.

Premier François Legault said on Twitter that the bail-out will buy some time for the newspaper chain to find new owners, and for the government to put in place a general media assistance program.

Prime Minister Justin Trudeau said Monday that it’s necessary for media to have the capacity and resources to ask important questions and report the truth.

“We will always be there to see how we can help while respecting, of course, the essential independence of the media,” Trudeau said Monday in Quebec City.

Last year, the federal government announced nearly $600 million in financial aid for print media over five years, as well as tax credits for hiring journalists for local coverage.

Quebecor expresses interest

Legault had promised over the weekend, amid reports of the chain’s impending insolvency, that his government would “do everything” to ensure the survival of the papers.

He previously said the government would be open to emergency one-time help until a general media assistance program is put in place. Groupe Capitales received a $10-million loan from the Quebec government in 2017.

The company also owns La Tribune in Sherbrooke, La Voix de l’Est in Granby, Le Quotidien and Progrès week-end in Saguenay.

Quebecor Inc., which publishes the Journal de Québec, Le Journal de Montréal as well as the TVA television group, has expressed interest in the newspapers but the Liberal opposition is worried about media concentration.

The president and CEO of Quebecor is Pierre Karl Péladeau, former leader of the Parti Québécois.

There was also a report that Montreal newspaper Le Devoir was examining the possibility of joining forces with Le Soleil.

“We are studying all the options with our partners, but it is premature to make assumptions at this stage,” Le Devoir’s editor-in-chief, Brian Myles, said in a statement.”

 

Source: CBC, 2019

 

Torstar continues digital transformation

“Torstar announced in its recent second quarter financial results that thestar.com now has more than 19,500 digital-only subscribers.

“We are making good progress in combining the power of data with our journalism to develop a new and growing digital revenue stream,” said John Boynton, President and CEO of Torstar.

A full breakdown of the quarterly results can be read here.”

Source: News Media Canada, 2019