Home About Archives RSS Feed

Berkshire Eagle Parent Mulling Newspaper Sales

PITTSFIELD, Mass. — The Berkshire Eagle's parent company revealed it may be looking to sell off all or parts of its newspaper business.

Digital First Media CEO John Paton announced on Friday that the company is using investment bank UBS to review "strategic alternatives."

"Strategic alternatives — what does that mean exactly?

"Well, it could mean we decide to sell the company. Or sell parts of it. Or expand it. Or stay the course," Paton posted on his blog.

It's been rumored the company has been trying to cut $100 million out of its overall operating budget this year.

DFM operates Digital First Ventures, 21st Century Media and MediaNews Group, under which New England Newspapers falls. The regional group consists of The Eagle and Vermont papers the Bennington Banner, Brattleboro Reformer and the Manchester Journal.

MediaNews Group, based in Denver, purchased the local papers in the 1990s and declared bankruptcy in 2010. The newspaper group and the Journal Register group, which also had been through bankruptcies, were both acquired by Alden Global Capital; DFM was created to manage the properties and develop a digital strategy.

The results have been mixed. New England Newspapers closed the 170-year-old North Adams Transcript and the weekly Advocate in January. There also have been a number of layoffs and outsourcing within the local papers over the past few years, and a series of layoffs at DFM's other holdings over the past few months.

DFM in April shuttered its much ballyhooed "Thunderdome" news project and last month put a number of its newspaper buildings up for sale, including. Newspaper Guild staff working at some of its major properties have advertised for "local, community-minded buyers for their newsrooms."

Paton, however, in his post said, "After a rocky five years, the newspaper industry is firmly back on its feet again."

0 Comments
     

Support Local News

We show up at hurricanes, budget meetings, high school games, accidents, fires and community events. We show up at celebrations and tragedies and everything in between. We show up so our readers can learn about pivotal events that affect their communities and their lives.

How important is local news to you? You can support independent, unbiased journalism and help iBerkshires grow for as a little as the cost of a cup of coffee a week.

News Headlines
Lanesborough Briefs: Special Town Meeting Next Week
North County Community Dedicated to Continuing Nelson's Story
Adams-Cheshire Pleased With New MCAS Test Scores
Lauren Mangiardi Scores Twice in MCLA Women's Soccer Win
PopCares Inspiring Next Generation to Volunteer
Biz Briefs: Red Lion Inn Partners with Stash Hotel Rewards
Berkshires Beat: BSO Going 'Into the Forest' for Pleasant Valley Concert
Hinds Sets Community Outreach Events for October
Mount Greylock Building Committee Nixes Overflow Parking Proposal
New Men's Group Piques Interest at Coalition Forum on Relational Violence

 


Bill Schmick separates the bull from the bears in his weekly columns on investing and market wrap-ups.



Categories:
advertising (10)
agriculture (1)
arts (7)
automotive (5)
awards (16)
banking (41)
Beacon (1)
broadband (1)
business (52)
chamber (25)
closing (5)
development (23)
dining (5)
domestic animals (2)
energy (6)
entertainment (2)
federal (4)
finances (5)
food (5)
fundraiser (3)
green (2)
grocery (5)
hospitality/hotel (5)
housing (0)
insurance (3)
investment (6)
jobs (35)
labor (17)
laws (4)
Legislature (3)
manufacturing (9)
media (8)
medical (4)
networking (33)
new (22)
pricing (1)
projects (2)
promotion (6)
publishing (13)
radio (2)
real estate (8)
retail (29)
technology (13)
training (5)
transportation (1)
volunteer (1)
website (2)
wholesale (7)
workshops (6)
Archives:
Tags:
Flood Walmart Small Business Berkshire Enterprises Auction Statistics Merger Great Barrington North Adams Wmeco Gas Prices Pittsfield Unemployment Bj's Qualprint Excelsior Sales Tax Berkshire Chamber Of Commerce Statistics Currency Crane & Co. Jobs Sabic Berkshire Living Williamstown Breakfast Social Media Berkshire Creative Store Opening Adams Expansion Unemployment Baldwin State Talkberkshires
Popular Entries:
Excelsior Brings Greeting Card Co. To North Adams
Berkshire Jobless Rates Drop
Bay State Continues to Add Jobs
Williamstown Chamber Seeks Input on Future Role
Aladco Installs New 'Green' Washing Machine
New Dog Training Center Open in North Adams
Storey Publishing to Host Next Creative Challenge
White Hart Inn For Sale for $5M
Carbone Dealership Empties Lot
Real Estate Panel to Tour S. County, Pittsfield Sites
Recent Entries:
Biz Briefs: Mr. Tire, Tax Holiday, Business Directory
Berkshire Eagle Parent Mulling Newspaper Sales
Digitial First Puts Vermont News Buildings on the Market
Berkshire Chamber, Neal Hosting Facebook for Business Workshop
Winstanley Wins Big at Annual ADDY Awards
Eggs & Issues Event Focuses on Rail Cars, Development
State Unemployement Rate Drops Slightly
New Biotech Firm Setting Up in Pittsfield
Crane Museum Opens Retail Store
License Commission Approves River Street Package Move