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Gannett Eliminates Hundreds of News Jobs across US. Gannett may buy Hedge Fund Alden Global value-destroyed Digital First Media news products

DFM newspapers include The Boston Herald, The Trentonian, The San Jose Mercury News, The Denver Post. NY Post Josh Kosman, Keith J. Kelly and Carleton English report: Looks like slashing and burning has its limits in the newspaper business. The secretive hedge fund that owns MNG Enterprises — a controversial newspaper chain hated by journalists for slashing jobs at papers like the Denver Post and The (San Jose) Mercury News — is desperately looking to exit its investment, The Post has learned. Last week, MNG, better known as Digital First Media, sent shudders through the media industry with a $ billion hostile takeover bid…
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Newseum Washington DC Fails, building sold, news museum to Close end of 19, reopen new site in 2020

FREEDOM FORUM ANNOUNCES SALE OF 555 PENNSYLVANIA AVENUE TO JOHNS HOPKINS UNIVERSITY. Washington, DC: Newseum reports - Today, the Freedom Forum — the creator and primary funder of the Newseum — is announcing the sale of the building in which the Newseum is located to Johns Hopkins University, a premier academic institution. The University will use the building as a new consolidated center for its DC-based graduate programs. The deal remains subject to all necessary regulatory approvals, and the Newseum will remain open to the public through 2019. The sale comes at the conclusion of a 16-month strategic review, announced in August 2017,…
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Gannett lays off journalists across the country

Another brutal day for journalism. Poynter .org reports by Tom Jones. Gannett began slashing jobs all across the country Wednesday in a cost-cutting move that was anticipated even before the recent news that a hedge-fund company was planning to buy the chain. The cuts were not minor. At the Indianapolis Star, three journalists were laid off, including well-known columnist Tim Swarens. At the Knoxville (Tennessee) News Sentinel, University of Tennessee women’s basketball reporter Dan Fleser is out after more than 30 years in sports. The Tennessean cut three positions, including high school sports reporter Michael Murphy. Traci Bauer, executive editor…
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Hedge Fund Alden Global Capital Attempts Takeover of Gannett Newspaper Chain

CWA Union dfmworkers. org by Julie Reynolds reports - Billing itself as a savior of newspapers, vulture hedge fund Alden Global Capital has made a $ billion hostile takeover bid to acquire Gannett's chain of more than 100 local papers. If successful, the move would make Alden's Digital First Media the largest newspaper chain in the country (in terms of circulation), while extending Alden's heavily criticized slash-and-burn strategy to hundreds of communities. The NewsGuild, which represents workers at 12 Digital First newspapers, issued a statement: " The destruction of local newspapers by hedge funds and private equity firms is an underreported…
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Ivanka Trump says news media not ‘enemy of the people’

Honor Cordon President Donald J. Trump and First Lady Melania Trump walk through a joint forces honor cordon in the Capitol during the 58th presidential inauguration in Washington, , Jan. 20, 2017. More than 5,000 service members from all branches of the military provided support during inaugural events. DoD photo by Air Force Staff Sgt. Marianique Santos WASHINGTON, DC: — Ivanka Trump said Thursday that she does not view the news media as “the enemy of the people,” breaking with one of President Donald Trump’s frequent attacks on the press. The senior White House adviser spoke at an event hosted…
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Mogul Law Boston – OT Pay Shutdown. Will CWA Strike Out? Will Globe Union Cave to Billionaire Surges now that company is value-destroyed, striped of Real Estate Assets ? Will The Boston Globe without a Union, hedge a buyer? Or will old contract renew ?

Will John and Linda Henry Strike Out at the Boston Globe ? Boston, MA: - Boston Globe owner billionaires want more from workers in an attempt to dilute the CWA Unions strong power. New demands include: If a new owner buys us, our contract disappears. Boston Newspaper Guild reports - If a new owner buys us, our contract disappears. Our current contract includes a key clause that requires that if the company is sold to a new owner, the new owner must adhere to our current contract. The proposal the Globe has on the table would eliminate that. Pay Shutdown…
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Digital First Media Hedge – MNG offers Value-Destroyed Gannett Newspapers Takeover Bid

“suffered from a series of value-destroying decisions made by an unfocused leadership team.” MNG Gannett Receives $ Billion Takeover Offer From a Rival. New York Times reports - MNG Enterprises, which owns one of the largest newspaper groups in the United States, proposed on Monday a takeover of the giant newspaper publisher Gannett, a move that would further consolidate a struggling industry. In an open letter to Gannett’s board, MNG said it was willing to pay $12 per share in cash, which represents a 23 percent premium on Gannett’s closing price on Friday and values the company at $ billion. Monday morning,…
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Mogul Law Washington – Amazon owned Washington Post Billionaire Jeff Bezos Getting Divorce Over Fling, Stole Another Mogul Billionaire’s Wife. National Enquirer this week.

National Enquirer World Exclusive 1-10-2019 buy this weeks collectors edition while on newsstands. Married Amazon Boss Jeff Bezos Getting Divorce Over Fling With Movie Mogul’s Wife ;via @nationalenquirer The marriage of the world’s richest couple is set to explode in all-out war — after billionaire Jeff Bezos was caught cheating on his wife of 25 years with the spouse of a Hollywood mogul! The National ENQUIRER has revealed that for the past eight months, the hot-blooded founder of online retail giant Amazon has two-timed novelist wife MacKenzie Bezos with busty beauty Lauren Sanchez, whose husband, Patrick Whitesell, is one of Hollywood’s most powerful talent agents. Bezos — a…
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Dallas Morning News lays off 43 of 978 workers as company struggles with revenue declines. 20 from News staff. NYSE: AHC A. H. Belo Corp

Dallas, TX: The Dallas Morning News reports - As the newspaper industry struggles to stem declines in revenue, The Dallas Morning News on Monday laid off 43 employees in its newsroom and other parts of the company. The cuts include about 20 writers, editors, photographers and newsroom support personnel. The overall staff reduction represents about 4 percent of the 978 employees working for The News’ parent company, A. H. Belo Corporation.   The layoffs are intended to position The News for long-term success, said president and publisher Grant Moise. Share More:
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Mogul Law Boston – DAs will appeal court order to turn over files to Boston Globe

Boston Red Sox baseball enterprise and Boston Globe owner John Henry Boston, MA: Boston Globe reports - Three district attorneys, who have already spent more than $80,000 in public funds fighting a public records suit for data on the cases they prosecute, vowed this month to appeal an order to turn over the records to the Globe, which is likely to further boost their legal bills. Attorney General Maura Healey sued the three prosecutors — Plymouth District Attorney Timothy J. Cruz, Worcester District Attorney Joseph D. Early Jr., and Cape and Islands District Attorney Michael D. O’Keefe — after all…
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