Media
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Ultimately, the numbers didn’t add up to local ownership of Rhode Island’s most prominent newspaper. more
(Updated, Aug. 4, 3:45 p.m.) GateHouse Media will not honor the collective bargaining agreements negotiated between the Providence Journal and A.H. Belo Corp. and may lay off as many as 40 Journal employees upon its purchase of the paper who will be covered by Belo’s severance policy, according to an asset purchase agreement filing with the U.S. Securities and Exchange Commission. more
Embolden, a digital-communications group, has been acquired by New Jersey-based Crown Philanthropic Solutions, which specializes in philanthropic technology. more
(Updated, 5:30 p.m.) The Providence Phoenix will cease publication next week, according to a news release from the company. more
(Updated, 9:45 p.m.) The Providence Journal has begun laying off employees in advance of its acquisition by the parent of Gatehouse Media Inc., according to comments from newsroom staff on social media. Rhode Island Public Radio reports that 22 editorial union personnel were losing their jobs. more
Media General announced Wednesday that it has entered into definitive agreements to sell several of its assets – including WJAR-TV NBC 10 – to meet the regulatory requirements of its merger with Providence-based LIN Media, the parent of WPRI-TV 12. more
The Providence Journal’s second-quarter profit more than doubled to $2.1 million, as revenue grew 1.1 percent to $22.3 million compared with the same period last year, according to an A.H. Belo Corp. filing with the U.S. Securities and Exchange Commission made public Wednesday. more
Alex and Ani LLC is being sued over the aborted sale of its since dissolved Seven Swords Media subsidiary. more
Media general Inc. will sell a group of television stations to settle U.S. claims that its $1.5 billion purchase of LIN Media LLC is anticompetitive, the government said. more
One week after announcing an agreement to sell the Providence Journal to New Media Investment Group Inc., A.H. Belo Corp. reported second-quarter net income of $22 million, more than 18 times the profit of the same year-earlier period, thanks in large part to an $18.5 million investment gain. more
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