Word: gannett
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...Gannett Co., the nation's largest newspaper publisher, and AT&T, the leading provider of long-distance telephone service, last week named new chief executive officers. The change in command at Ma Bell had been anticipated, but the timing of the Gannett switch came as a surprise...
...When Gannett shareholders trooped into the Capital Hilton ballroom in Washington last week for the company's annual meeting, they expected a lively session. Only one day before, Gannett had agreed to buy Louisville's Pulitzer Prize-winning Courier-Journal and Times for about $300 million, outbidding both the Washington Post Co. and Chicago's Tribune Co. Within the past year, the Arlington, Va.-based media giant had acquired two other major newspaper companies that had come up for sale: the Detroit News and the Des Moines Register (total price: $917 million). "It's a little like winning the Triple...
Neuharth, who has led Gannett for the past 13 years, took the podium in Washington and said in a trembling voice, "I want to introduce Gannett's new boss." President John Curley, 47, would be taking over that day as chief executive officer, Neuharth explained. The announcement caught some seasoned Gannett watchers off guard. Still, it will probably not signal a complete change in corporate leadership. Neuharth, 62, will retain his title of chairman, and promised to be "very active" in that role, supervising long- term corporate strategy and acquisitions. Said Neuharth: "I love this company. I'm not going...
...outposts of journalism is lively vituperation still to be found--on a newspaper's sports pages and in political journals of left and right. In cities that are newspaper monopolies (as most are), editors feel an obligation to represent all elements in the community. The largest newspaper chain, Gannett, lets its 86 dailies be Republican or Democratic as they please. Gannett calls this local autonomy, though it could also be described as commercial opportunism. Gannett editors choose their own columnists but are advised to seek an ideological balance. That spectrum attitude somewhat diminishes the columnist, who is seen...
...bidding war ended with nary a drop of blood spilled. Gannett Co., the nation's sixth-largest media company (86 daily newspapers, including USA Today, six TV stations and 14 radio stations), agreed last week to buy the Evening News Association, the parent firm of the Detroit News, which has been controlled by the Scripps family for 112 years. Gannett offered $1,583 a share for a total of $717 million, beating out Washington Redskins Owner Jack Kent Cooke and Hollywood Producer Norman Lear. Besides the money-losing News (circ. 667,000), Gannett will acquire lucrative television stations in Washington...