Bob Brown set to retire from Swift Communications
After being the point man when it comes to initiatives for Swift Communications including helping lead the sale of the company to Ogden Newspapers, Bob Brown is set to retire at the start of this upcoming year. Brown is the former publisher of the Summit Daily News and the Vail Daily, and currently holds the position of COO and President of Swift Communications.
Brown is responsible for leading Swift into the industry of free newspapers, following the business model used by Jim Pavelich and Dave Danforth. Pavelich believes Brown is leaving behind a solid foundation that will build up to a successful future for the company.
Brown looks forward to life slowing down, and is even setting up the framework for a consulting business.
Alden Capital Sues Lee Enterprises
Shortly after Lee Enterprises rejected Alden Capital’s offer to buy Lee for $24 a share, Alden filed a lawsuit against Lee. Alden’s reason for the lawsuit is that Lee should not have rejected the offer without giving their shareholders a say in the matter, which includes the hedge funds board. Lee denied the offer in the first place because they believed it severely undervalued the company’s worth. Lee Enterprise stock closed at $40 on Wednesday.
Vox Media Merges with Group Nine Media
Following Buzzfeed’s acquisition of Complex Media in June of 2021, comes one of the largest digital media mergers of all time, Vox Media and Group Nine Media. After the merger the company would instantly become one of the largest digital media companies in the country, with an approximate audience of 115 million unduplicated visitors a month.
Vox CEO, Jim Bankoff, exclaims, “The business rationale behind this merger is to grow revenue, increase scale, and combine these incredibly powerful and complementary portfolios… While our combined scale is remarkable, it’s the passion that their teams put into their work that will make this combination a natural fit”.
The merger is yet to be signed, but is projected to take place in early 2022 according to Vox Media employees.
Houston Chronicle has a new Publisher
One of the country’s largest regional media businesses, the Houston Chronicle, has received a new Publisher. Nancy Meyer, who has served as publisher of the Miami Herald, Orlando Sentinel, and Hartford Courant, is now publisher of the Chronicle.
“ Nancy has a great track record of successfully leading several large newspapers during her career… She is a forward-thinking and thoughtful leader who has a strong business acumen and values the critical role that newspapers play in their local market. I look forward to Nancy’s engagement with the Houston Chronicle team and the greater community.”
Google’s “Showcase” has Trouble Gaining Traction in U.S
According to an investigation by Press Gazette, the United States’ largest publishers are hesitant or against signing up for Google’s News Showcase program. The program offers a $1bn budget to pay publishers in return for them to use their content.
Google’s program is already live in 14 countries with 1,000 publishers under its belt, but Google is having a hard time getting U.S. publishers to jump on board. According to the Press Gazette, this is for an array of reasons. Some publishers have been offered a mere $200,000 a year for their content, which they find disrespectful. Other publishers won’t jump on board for the hope that certain U.S. laws will come into play where they will be able to strike more lucrative deals by being able to negotiate with Google.