I just returned from an event in my hometown of Carthage, a “going away” party for my friend and the now former editor of the 134 year old Carthage Press…
It was shut down last Wednesday.
How, you ask?
The publisher called a meeting on Tuesday, one hour after their Wednesday edition publishing deadline. He walked in and told the staff , “You just sent the LAST edition of the Press to print; we’re closing it down as of today.
They didn’t allow them a proper goodbye to readers, nothing.
Owner GateHouse Media slipped in a small column on the right side of the front page announcing they were shutting it down.
But, they added, GateHouse is still committed to local news and Carthage’s news would now be covered by the Neosho paper…..some 25 miles and a different world away.
Stevie Wonder could have seen this coming after being cut back from 5 days a week, to 2, to 1.
Gatehouse demanded the newspaper turn a profit while contributing 20% to the the company’s bottom line, but with the local staff not being in control of any direct costs they had to take (that were allocated to them by the corporation) it was doomed.
The interesting part has been the rally by the community, where people have come together offering substantial sums of money to back their own “paper” in print or online.
It’s a sad day for small towns as this happens across our country.
GateHouse filed bankruptcy in 2013 and came out with enough cash to invest over a half billion with a “b” dollars buying up strings of similar small town newspapers and periodicals.
Makes one wonder why as they shut them down, one by one.
Stripping out the assets and heading for cover.
The KC Star killed several local newspapers around KC.
Come to think of it, you’re right…but accidentally.
They bought up like the Olathe paper a Missouri paper or three and rode them until the red ink was too unbearable
Gatehouse wasn’t the only investor surprised by the rapid decline of small town papers.
Warren Buffett, who I’ve heard is a pretty smart fella, bought 28 papers for $344 million in 2012-2013. I don’t know if he’s shut any of them down yet, but he is on record saying that he was surprised at the speed of the circulation decline in the local papers (which he thought would hold up better than the big city papers).
The “Oracle of Omaha” is definitely senile by thinking small town newspapers were a smart buy.
senile????
I wish I was that senile.
hello PAUL:
its beeen a while…but i agree with you on this one. Rural amercia is taking
a beating. I was at a tmobile store and talked with the young man . He had moved
from “corn country” in illinois because the community hosptial had shut down….
several major companies moved…..the few doctors left in his communnity
rettired…and there was nothing left for his future. This is rurral america. He moved downtown kc to find work/have his baby/find work for his wife and starrt a new life.
This is not unusual. Our pattterns of living an our style of living ischanging. Small
town liviing may be a thing of the past…..but i would like to hear your opinion since this is wherer you are from.
I hoope your new biz is going welll. The new BOOM BOOOM IS FOREFRONT…..
And seriously somedday I wish to meeet you. Goood luck. THE NEW NEW BOOM
BOOOM
Good lord, what hath God wrought?