By Jim Hopkins
To paraphrase a famous misquote, what’s good for Gannett is good for its Courier-Journal subsidiary here in Louisville. That was the gist of Gannett’s argument in favor of its $815 million offer last spring for Tribune Publishing — now called Tronc, the parent company of The Los Angeles Times, Chicago Tribune, seven other big dailies, and 160 smaller weekly and monthly niche titles and their more than 7,000 employees.
“As one company,” Gannett said April 25 in disclosing its surprise offer, “Gannett and Tribune would have the financial stability to continue maintaining journalistic excellence, independence, high standards and integrity for years to come.”
The immediate path to that goal would be the $50 million Gannett predicted the two companies would save if they consolidated overlapping functions, which means eliminating jobs in areas like finance, marketing and production, and through greater purchasing power for things like newsprint and technology.
Today, with the Tronc deal looking more likely than ever — a published report last week said the two companies are now just haggling over a considerably sweetened final price — it makes sense to turn to the possible impact on the CJ.
The Louisville paper is a much smaller operation than it was 10 years ago, before the newspaper industry cratered during the financial collapse. It’s no longer Kentucky’s dominant statewide paper, and its influence even in Louisville has diminished as other news outlets have started from scratch (Insider Louisville) or bulked up (WDRB and, just last month, LEO Weekly’s parent).
But the CJ is still a local player. And it’s also Continue reading “What happens to the CJ in the increasingly likely event Gannett adds the Los Angeles Times and 40-plus other titles?”