An independent journal about the Gannett Co. and the news industry's digital transition
I received a call yesterday from a private equity firm asking if it is true that Gannett is trying to sell Pointroll. Apparently, Rob Gatto, Pointroll, CEO, is working with some investors to buy the company from Gannett.Supposedly, Rob Gatto "received clearance" from Gracia Martore and David Payne to pursue a management buyout.I am not sure this is legal, but it seems like this private equity firm had or exact numbers and our financial plan for 2011 and 2012. Isn't this a board item that would require Board level approval from Gannett.How could Gracia allow Rob Gatto to approach bankers to buy the company.
6:47-That's a doubtful rumour. Digital is the core of what the current mgmt of Gannett see as the future of the company. Pointroll is the core of digital. Unless they now plan on selling off the company in pieces it doesn't make sense.
7:43a well then someone in "corporate" should visit Pointroll and have a little "sit down" with Mr. Gatto as he mentioned it to several executives at pointroll (Sarah Ripmaster and Sandy Dondici) and they are all talking about it as if this is a reality.I am not saying it is approved by corporate, but maybe someone should keep this guy in check!
Don't worry folks, Robin Pence reads these blogs all day and sends a digest to the GMC that alerts them of comments on "the blog". This one will be sure to make it up there as Gracia will have her minions call into Pointroll and demand a meeting at the Crystal Palace. GUARANTTEED,,,
As per 7:59 PM last nite confirmed,there are layoffs going on under the radar on a regularly basis.Not every site reads or posts here.maybe they are afraid just as 7:59 didn't give actual site ,just east of Mississippi,even after being layed off.I have noted this in the past and been hugely criticized for lack of a source.Fine,keep believing that all is well just because things are seemingly QUIET. The Gannett world crumbles ....slowly,so slow you don't even realize it sometimes.
6:47 If Corporate was shopping PointRoll around, why wouldn't that firm simply have called Martore?
Since some of the papers are now short on staff, perhaps each editor EE, ME, etc. should be required to spend at least 6 hours a month covering one or two you-have-to-get-out-of-the-office events. All the editors would have to do is steamline the time they spend sitting in the daily budget meetings rehashing the same ol' stuff. Plus, it would be good for them. Some of them have spent so much time in their offices and out of contact with the people who read the paper, they have no idea who consumers of the paper are.
I highly doubt PointRoll is going anywhere. 7:43 is exactly right: PR is one of Gannett's most successful digital ventures. If Payne comes even close to the mark on his ambitious Digital Plan, he'll need PointRoll to be a part of it.
This thread might be the worst ever, and that is saying a lot.8:30, please stop posting every day. Get sources. Learn punctuation and spelling.8:21, riiiiiiiiiiiiiight. Yes, I'm sure we all believe that one.Funny stuff here. But some of the people who come here will swallow every word of it.
I now believe the following is true: In the past, private equity firms have approached Gannett occasionally, expressing interest in PointRoll. GCI has said no, because the subsidiary is too important to earnings. Also, I do believe Gatto is shopping PointRoll around. However, I very much doubt he has the blessing of Martore or anyone higher up.
I like 9:17's suggestion. All hands on deck.
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Pointroll is having real issues so it does not surprise me that they would look to get away from Gannett. Martore is a micro-manager, yet I doubt she even knows this is going on. I definitely think Rob Gatto is going to get a call today from her office telling him to SHUT IT DOWN.Jim,You are correct as Pointroll has always been of interest to a lot of firms even after Gannett purchased the company. I worked closest with the Pointroll leaders before I moved to another area in Gannett. Dan Ehrman was introduced to these firms by Saridakis. Most firms were really interested in buying the company and the Saridakis team. I can't imagine they would want the company in it's current state with the current management team.
Strange how much of this old Neuharth address came true. We were rented then: now we are bought and sold, etc., etc.http://journalism.unl.edu/cojmc/alumni/jnews/0203_winter/curley.shtml
Drove by USA Today, and the radio was playing this:http://www.musicloversgroup.com/lady-gaga-you-and-i-lyrics-and-video/
Neuharth....Nebraska speech....spellbound Lady Gaga...You and I....Nebraska? Have you ever been there? Cold isn't....But doesn't Warren Buffett live in Omaha....Yes he's investments and insurance....Omaha of Nebraska? ....Yes, ha. haha
“Solar panels cause flap” in Cincinnati....keeping it on the home page for the past three days generates more. One poster suggested there’s an internal bet as to how many comments they’ll get. If so, what’s the over/under on it? Regardless, there’s no way Facebook verification would have generated the hundreds of comments this story has received.http://nky.cincinnati.com/comments/article/AB/20110911/NEWS0103/109110315/Solar-panels-cause-flap
In other Newspaper Industry news:LA Times joining new mass layoffs list with 66 additional employees cutThe LA Times is only the latest employer to announce it plans to cut employees. Hopes for an economic recovery are fading as companies revive the practice of announcing mass layoffs.Here is a breakdown of the job losses at the LA Times: 16 editorial staffers, 16 employees in packaging and distribution, 10 in the pressroom, 14 people in circulation, five workers in paper handling, two employees in marketing and two in advertising and one employee at the paper's magazine.Article seen at dailyjobcuts.com
I ve heard 122 laid off at phila Inqurier this before 1 yr guild contract expiers next month watch out here, more great newspaper news also heard eliminating Saturday delivery
Layoffs in Cincinnati1 - Press operator1 - Sales assistant1 - Page designerShould have been Washburn.
Welcome to the wonderful world of Gannett:http://movieclips.com/2pyJo-office-space-movie-motivation-problems/
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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