Wednesday, December 28, 2011
Arkansas Media Stephens empire expands newspaper holdings
Posted by Max Brantley on Wed, Dec 28, 2011 at 12:48 PM
Analysts say, however, that community newspapers still hold solid niches and, for the right price for someone who might have cash to invest, could offer a decent return still.
One way to enhance profits is to lay people off and end expensive defined-benefit pension plans. Both possibilities have been discussed in web chatter about this sale. The notice from the New York Times to current employees of the new Halifax properties about the likelihood that some will be losing jobs is a pretty cold piece of work.
Corporate history of Halifax holdings here, including other Stephens Inc. employees in Little Rock who are part of the management team.
Press coverage of the sale in Florida papers has included speculation that Halifax Media might merge with the Stephens Media organization that, according to on-line citations, owns 11 daily and 64 weekly papers in Arkansas, Nevada and seven other states.
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Comments (7)
Showing 1-7 of 7
Halifax Media principals listed include Rupert Phillips of Mirimar, Fla. He's a former Arkansan involved in some weekly newspapers in the northern part of the state in the past.
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I'm sure the new owners are just dying to bring the news, the whole news, and nothing but the news without a conservative slant to those 400,000 readers. Not.
“[Stephens] gave up the Northwest Arkansas newspaper war against Democrat-Gazette publisher Walter Hussman to settle for a profit-sharing arrangement…”
Yep. And there’d still be a robust Arkansas Gazette if Mr. Hugh had taken Sir Walter up on his offer of a JOA back when Sir Walter’s Arkansas Democrat was down for the count and Walter came a beggin’. A huge "Hugh" miscalculation, as it turned out.
But back to those analysts who say community newspapers still hold solid niches: I’d say they’re spot-on. After all, 85 percent of Arkies read a daily, Sunday, or weekly newspaper, or access a newspaper website during an average week.
I know that’s true, because I’ve seen Arkansas Press Association ads saying so (and I’m sure Tom Larimer wouldn’t fib). If Arkies are THAT loyal to their hometown papers, folks in other locales probably are, too, don’t ya think?
Just noticed the Dem-Gaz has revamped their ArkansasOnline.com website design. Initial impression: it is an improvement.
Wow, what a perfunctory FAQ provided by the New York Times to its employees. Not sure I've ever read a FAQ with such a snarky tone, especially to longtime employees. As one of the commenters on the FAQ posted,
"15. Will the door hit me in the ass on my way out?
We cannot advise employees on whether the door will hit their ass on the way out. You are free to move your ass in such a way as to avoid letting the door hit it."
#16. If I take the "similar" job offered by Halifax can I then be terminated and not be eligible for the up 26 weeks maximum severance?
Bring in the lawyers. Offer all employees a "SIMILAR" job then they can't take severance AND then they can be "let go" as new short term employees with no severance.
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