Gannett offers to purchase the Tribune Publishing Company
"I think these big whales-swallowing-big-whales media deals are inevitable in the current climate, but sad - and bad for journalism," said Convey, a former editor-in-chief of The Daily News. "Essentially deals such as this are being made not to improve coverage for readers and users, or to find a way to effect a successful transition from legacy publishing to digital, but rather to improve, at least temporarily, the bottom-line performance of battered media companies, many of which are public. The idea, from a financial perspective, is to buy up publishing assets that, notwithstanding their distress, still throw off lots of cash and combine that cash with deep cuts in staff to buy more time in hopes that someone, somewhere will figure out an advertising and/or business model that will work somehow.
"Unfortunately for journalism and readers and users, this strategy thus far has resulted only in more large struggling companies buying other large struggling companies and laying waste to their staffs with few if any benefits to readers and users - and few in sight within the foreseeable future."
If you're interested in speaking to Convey, please contact John Morgan, associate vice president for public relations, at 203-206-4449 (cell) or 203-582-5359 (office).