So much for the open media.
The news release is printed below:
FAIRPORT, N.Y., March 6, 2009 - GateHouse Media, Inc. (the “Company” or “GateHouse Media”) (OTC: GHSE) announced today that it plans to release its fourth quarter 2008 financial results before the market opens on Friday, March 13, 2009. The Company will not be hosting a conference call this quarter and intends to suspend future quarterly earnings calls.
GateHouse Media, Inc., headquartered in Fairport, New York, is one of the largest publishers of locally based print and online media in the United States as measured by its 91 daily publications. GateHouse Media currently serves local audiences of more than 10 million per week across 21 states through hundreds of community publications and local websites. GateHouse Media is traded over-the-counter under the symbol “GHSE”.
For more information regarding GateHouse Media and to be added to our email distribution list, please visit www.gatehousemedia.com.
GateHouse Media stock dropped another penny on the Pink Sheets Friday, closing at seven cents per share.
4 comments:
The loser did that last quarter too. He'll say the business model is sound and the company is well positioned to take advantage of the economy when it turns around. Mike Reed's mantra: the industry sucks, we suck less.
I'm sorry I didn't read completely, last time he held a conference call and just declined to take questions. This time no conference call. What a chicken.
Here's some commentary on the Pulaski County Web message board about the conference call cancellation:
http://pulaskicountyweb.com/smf/index.php?topic=15119.new#new
The Pulaski County Web is a partner operation of the Pulaski County Daily News, which covers Fort Leonard Wood and the territory of the Waynesville Daily Guide, a GateHouse Media newspaper.
As a former GateHouse manager in the Midwest who was recently (and disrespectfully) laid off, I can honestly say it was the most poorly run company I have ever been associated with. And any strategic idea brought forth was deemed to costly. No Marketing, no vision, no leadership... hell, not even an HR department. I am amazed it has lasted this long. Having sat in on numerous Mike Reed conference calls, I often wondered (as did everyone else in the room) how this guy qualified as a CEO. Same goes for our local publisher. It's only a matter of time.
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