Oligopolistic, other-directed GANNETT, owner of the Incredible Shrinking St. Augustine Record, is controlled by GANNETT's "Known Bondholders, Mortgagees, and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages," which are CITIBANK, its lender, administrative agent and collateral agency (CITIBANK is represented by Latham & Watkins law firm partner Alfred Xue) and hedge funds:
- BlackRock Fund Advisors
- The Vanguard Group, Inc.
- Miller Value Partners LLC
Fully 2/3 of GANNETT stock is owned by institutional investors, not people.
Under GANNETT maladministration, mismanages are making a mockery of GANNETT's materially false and misleading promise to "empower our communities."
We seek to build trusted local communities where people thrive. As the new Gannett, we exist to make communities stronger. As an award-winning news organization, we inform and empower our communities. As a modern media company, we foster deep and vital connections among our communities and the world around them.Less news coverage means fewer readers. Fewer readers means less advertising. Less advertising means higher subscription prices. Higher subscription prices means fewer subscribers. Thus, hesto presto, mutatis mutandis, we have a failing newspaper. Judith Seraphin and I told them so when prior Record owner, MORRIS COMMUNICATIONS filed for bankruptcy.
Fewer people subscribe to the Record, which no longer prints on Saturdays and on a growing number of holidays.
Fewer stories of local interest appear in the Record. It is, by definition, a failing newspaper, which failed to cover political corruption under Sheriff DAVID SHOAR, who legally changed his name from "HOAR" in 1994.
Negative growth between 2021 and 2022 is shown in the annual USPS filings by the incredible shrinking St. Augustine Record. Massive loss in paid print subscribers, and a tiny number of electronic subscribers. GANNETT has ruined our small town newspaper.
Source: 2021 and 2022 St. Augustine Record USPS annual filing of USPS forms 3626, Statement of Ownership, Management, and Circulation (All Periodicals Publications Except Requester Publications),
From CNN MONEY: