GateHouse Media Inc. (formerly Liberty Group Publishing), a holding company for New Media Investment Group (NYSE: NEWM), former symbol on OTC Markets Group's OTCQB tier GHSE, is one of the largest publishers of locally based print and digital media in the United States, headquartered in the town of Perinton, New York. As of April 2018, GateHouse Media publishes 144 daily newspapers, 684 community publications, and over 569 local-market websites in 38 states. In addition to publishing content, GateHouse Media offers commercial services including a digital marketing agency (ThriveHive), event production company (GateHouse Live), and creative services (Creative Solutions).
By 2013, GateHouse Media grew, operating in 330 markets across 21 states, but they found themselves in a debt situation that would prohibit future growth. The company filed for Chapter 11 bankruptcy on September 27, 2013. It re-emerged from the planned bankruptcy in November 2013. In the restructured plan, Gatehouse stock was cancelled and a new holding company for the parent, New Media Investment Group, Inc., was formed (NYSE: NEWM).
Gatehouse Media re-emerged ready to grow their portfolio, acquiring several newspaper groups between 2014 and 2017, including Halifax, Stephens Media, Calkins Media and Morris Publications.They also acquired Dolan Media Group and Journal Multimedia, adding business publications to their portfolio. The combined group of business publications was rebranded as http://www.w3.org/2000/svg%22 width=%2212%22 height=%2212%22%3E %3Cpath fill=%22%23fff%22 stroke=%22%2336c%22 d=%22M1.5 4.518h5.982V10.5H1.5z%22/%3E %3Cpath fill=%22%2336c%22 d=%22M5.765 1H11v5.39L9.427 7.937l-1.31-1.31L5.393 9.35l-2.69-2.688 2.81-2.808L4.2 2.544z%22/%3E %3Cpath fill=%22%23fff%22 d=%22M9.995 2.004l.022 4.885L8.2 5.07 5.32 7.95 4.09 6.723l2.882-2.88-1.85-1.852z%22/%3E %3C/svg%3E"); padding-right: 13px;">BridgeTower Media.
The GateHouse Media corporate strategy continues to focus on acquiring and operating traditional local media businesses and transforming them from print-centric operations to multimedia operations.As of April 2018, GateHouse Media publishes 144 daily newspapers, 684 community publications, and over 569 local market websites in 38 states.
In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. Its stock dropped from $20 on initial trading in 2006 to 16 cents when it was delisted in October 2008.
On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications. On August 28, 2008, GateHouse sold two of those papers, The Grand Island Independent and the York News-Times, both in Nebraska, to the Omaha World-Herald Co. The company received notification from the NYSE on August 21, 2008, that it had fallen below the NYSE's continued listing standards for average global market capitalization over a consecutive 30-trading-day period of not less than $75 million and $1.00 average closing price, and had submitted a business plan to the NYSE Regulation for coming back into compliance for continued listing. The company has been in communication with the NYSE regarding its noncompliance with continued listing standards, but was unsuccessful in its efforts to avoid suspension and delisting.
On September 4, 2013, News Corp announced that it would sell the Dow Jones Local Media Group, a group of 33 local newspapers, to Newcastle Investment Corp, an affiliate of Fortress, for $87 million. The newspapers were operated by GateHouse Media following the purchase. CEO Robert James Thomson indicated that the newspapers "were not strategically consistent with the emerging portfolio" of the company, which had been formed as a spin-off of News Corporation.
On September 27, 2013, the company filed Chapter 11 bankruptcy in U.S. Bankruptcy Court in Wilmington, Delaware. It listed assets of $433.7 million and debt of $1.3 billion. The planned bankruptcy centered on restructuring the Fortress News Corp deal. Fortress owns 52% of GateHouse debt. A Fortress unit FIF III Liberty Acquisitions LLC merged with Gatehouse in 2005.
The company emerged from bankruptcy on November 26, 2013. The terms involved the cancellation of shares of Gatehouse, but those owners receiving warrants to buy shares in New Media Investment Group Inc, a new holding company.
In November 2016, GateHouse announced the purchase of Harris Enterprises, based in Hutchinson, Kan., which operated six daily newspapers in Kansas and Iowa. In February 2017, GateHouse purchased the Dix Communications newspaper chain for $21.2 million. Dix Communications operates in northeastern and east-central Ohio, including more than 30 daily and weekly newspapers. In June 2017, GateHouse announced it was purchasing Calkins Media Group's four six-day-a-week newspapers and Calkins Digital Group, a press facility and related websites and other digital operations.
In August 2017, GateHouse announced it was purchasing 11 daily newspapers, 30 weeklies, and other assets from Morris Publishing Group, a division of Morris Communications.
In January 2018, GateHouse announced its purchase of Oregon's second-largest daily newspaper, The Register-Guard.
In February 2018, GateHouse announced the acquisition of Kirk Davis' independently owned Holden Landmark Corporation for an undisclosed sum. The sale includes the central Massachusetts media properties, Worcester Magazine, The Landmark, baystateparent Magazine, Leominster Champion, Millbury-Sutton Chronicle, and the Grafton News.
In March 2018, GateHouse announced its $47.5 million purchase of the Austin American-Statesman of Austin, Texas. It is the largest newspaper in Central Texas. In the same month, GateHouse announced its $49.25 million purchase of http://www.w3.org/2000/svg%22 width=%2212%22 height=%2212%22%3E %3Cpath fill=%22%23fff%22 stroke=%22%2336c%22 d=%22M1.5 4.518h5.982V10.5H1.5z%22/%3E %3Cpath fill=%22%2336c%22 d=%22M5.765 1H11v5.39L9.427 7.937l-1.31-1.31L5.393 9.35l-2.69-2.688 2.81-2.808L4.2 2.544z%22/%3E %3Cpath fill=%22%23fff%22 d=%22M9.995 2.004l.022 4.885L8.2 5.07 5.32 7.95 4.09 6.723l2.882-2.88-1.85-1.852z%22/%3E %3C/svg%3E"); padding-right: 13px;">The Palm Beach Post and Palm Beach Daily News from Cox Media Group, LLC.
On July 2, 2018, GateHouse acquired SouthernKitchen.com, the Atlanta-based Southern food and lifestyle brand. Southern Kitchen, launched by Cox Media Group (CMG) in 2017, is a blend of e-commerce and content. It delivers content and products related to eating, drinking, and entertaining with a Southern flair.