A lot of questions sent our way by the worried and the wondering following the announcement that the Mail Tribune and Daily Tidings have been sold to an investment group and will be managed by GateHouse Media. At this point, we don’t have a lot of answers.
GateHouse — which has 400-some newspapers and other publications — is apparently ready to declare bankruptcy any day, which raises the question of why they would be in the market for buying more newspapers. It looks like a Harry & David situation — the core business is doing OK, but debt is weighing it down. So its position stands to improve after the bankruptcy smoke clears.
An ownership change in any business sends a shiver through the ranks of the employees and it’s no different here. People are worried about what the future will bring and, right now, there’s a lot more we don’t know than we do know.
Whatever happens on Wall Street or in the corporate headquarters is beyond our power to affect, so my philosophy is to take charge of the things you can control and do the best possible job you can for the business, the employees and the community.
As our publisher said, we’re glad to be associated with an organization that focuses on community newspapers. That’s a better fit for us than News Corp, where Rupert Murdoch and his team are focused on much bigger fish in a much bigger pond. Good luck to them — and good-bye.
Hope you’ll stick with us through this ride. Not sure exactly where we’re going yet, but we plan to make the most of the trip.