Austin American-Statesman sold to GateHouse Media; ownership shrinks as prices drop.

The Austin American-Statesman was a Cox property and now has been sold to GateHouse for $47.5 million US.


When I was covering the newspaper landscape in the late 1990s, early 2000s. this price would have been considered a pittance. This wasn’t a minor newspaper, but now we are seeing companies buy up properties to squeeze out the remaining assets.

There is no stability in print anymore. There wasn’t any real stability twenty years ago, either, just fewer owners paying less for properties, and many of those properties don’t last long, despite being in publication for over a century — and surviving the Great Depression.

What sales often mean is people are let go, and operations are centralized, meaning media properties all walk lockstep to a single ideology. Despite the glowing press release, this is a painful era for the once noble — and power profession.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.