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
Berkshires Set to Dodge Full Impact of Nor'easter
New Smoke Alarm PSAs Geared Toward Older Adults
Former Pine Cobble Teacher Charged With Assaulting Student
North Adams OPM Search Committee Picks Three Candidates
Medical Matters Weekly Welcomes Certified Hand Therapist
Police Investigating Threat Made at BArT Charter School
Stockbridge Cultural Council Announce 2022 Grants
Flying Cloud Institute and Greenagers February Break Program
Slater,Sotek Lift New Lebanon Swimmers
Adams Officials Consider Scope of Government Review Committee

 


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:
Unemployment Bj's Gas Prices North Adams Berkshire Enterprises Statistics Walmart Great Barrington Baldwin Expansion Pittsfield Berkshire Living Berkshire Chamber Of Commerce Breakfast Crane & Co. Sales Tax Merger Store Opening Currency Talkberkshires Williamstown Social Media State Wmeco Statistics Flood Sabic Qualprint Berkshire Creative Auction Excelsior Small Business Jobs Adams Unemployment
Popular Entries:
Super Duper Wally World
Funding Secured For Pittsfield BJ's Wholesale
Pittsfield Jobless Rate at 7 Percent
Excelsior Brings Greeting Card Co. To North Adams
Baldwin Brings Berkshire-style Talk to Florida
Cranwell Voted Best For Meetings
State Jobless Holds Steady at 7.6%
Business Briefs for December
Pittsfield Lab To Do 11 Percent of Missile-Building Contract
State Added 12,700 Jobs in July
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