Tuesday, June 3, 2014

More newspaper layoffs at another Stephens property

Posted By on Tue, Jun 3, 2014 at 9:43 AM

Journalism websites are buzzing today with news of big layoffs in the newsroom of the Worcester (Mass.) Telegrampurchased recently from Boston billionaire John Henry by the Dayton, Fla.,-based Halifax Media Group. One of the equity investors in Halifax is Stephens Capital Partners of Little Rock. It is an invesment apart from its own Stephens Media, which has been downsizing considerably in Arkansas recently, including recent layoffs at the Fort Smith daily newspaper and Central Arkansas weeklies.

Investors apparently still see profit in newspapers — with enough firings of employees.

Another Arkansas angle: John Henry, who owns the Boston Red Sox, spent some of his youthful years in Arkansas as the child of soybean farmers who spent time split between Illinois and Arkansas. He finished high school in California and made a fortune as a commodity futures trader and investor.

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    March 4, 2015
    GateHouse newspapers, a part of the New Media company that recently purchased all Stephens Media newspapers, including several in Arkansas but not its share of the joint venture with the Arkansas Democrat-Gazette in Northwest Arkansas, is laying of people around the country, Romenesko reports. /more/
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    January 10, 2012
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    Interesting that an investment company owned by Little Rock financier Warren Stephens has purchased 16 newspapers from the New York Times to add to a newspaper Halifax Media already owned in Daytona Beach, Fla. Industry press says the prices — $143 million and change for more than 400,000 in daily circulation — represents a dramatic reduction in the value the newspapers once held. /more/
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