NUJ reaction to Gannett acquisition
6 August 2019
Following the purchase of newspaper publisher Gannett by New Media Investment Group, NUJ general secretary Michelle Stanistreet said:
"For hundreds of our members in Newsquest, today’s announcement will mean months of further uncertainty as regulatory approval is sought for this merger of the two biggest newspaper groups in the US and we wait for the detailed corporate strategy to become clear.
"Little is known about New Media Investment on this side of the Atlantic and today’s announcement barely mentions Newsquest, so we don’t know at this stage what the new company leadership will bring for our hard-working members in this country. However, we will be working with our American colleagues in the coming weeks and months to understand what this might mean for our members on both sides of the Atlantic.
"While it is positive that New Media talks about a 'shared commitment to journalistic excellence' we note that it is thought the combination of the two companies could bring savings of up to $300 million (£245 million) annually. We would urge that this publicly pledged support for high quality journalism should come with greater investment in journalists and journalism."
Federica Bedendo, Newsquest chapel group MoC, said:
"Newsquest staff received three documents to inform them of the merger this morning, however I'm still none the wiser about what this means for Gannett's UK operations. At a time when morale is at an all-time low, the last thing we need is more uncertainty. I'd like to think that those who negotiated this deal looked at all aspects of the business in great detail, yet here we are wondering what tomorrow will bring. I sincerely hope that the investment they talk about will reach the UK operations because after all the cuts of recent years we are in desperate need of it."