One of last connections to old Liberty Group Publishing out at Gatehouse

Scott Champion, one of the last of the executives who formed the leadership team when Liberty Group Publishing is out at Liberty's successor, GateHouse Media, though his departure has been in the works for months.

An article in today's Peoria Journal-Star indicated Champion has "stepped down" as regional vice president. The article features no quotes from Champion, relying only on a statement from Gatehouse President and Chief Operating Officer Kirk Davis:

In the entrepreneurial spirit that has characterized Scott’s career, he will be focusing on other creative endeavors,” Davis said. “He is a very passionate newspaperman and we wish him much success.”

Davis was the man who took over Champion's position after Champion was given the heave ho from his position in GateHouse's executive leadership team as noted in the Jan. 13, 2009, Turner Report:

CEO Michael Reed has pushed aside one of the last connections to the old Liberty Group Publishing, president and chief operating officer Scott Champion and replaced him with a man who will earn more than twice the base salary Champion made in 2007.

Filings with the Securities and Exchange Commission indicate that at a time when many GateHouse employees are wondering if they will have jobs a few months down the line, new President and COO Kirk A. Davis (pictured) will receive a base salary of $461,260.80. Champion's base salary for 2007, according to a proxy statement filed with the SEC was $200,000. Even with $173,000 in bonus and benefits Champion made nearly $90,000 less than Davis' base salary.

The SEC filing indicates Davis will normally receive four week paid vacation...except in 2009 when he will receive five weeks because he is carrying one over from 2008. Other benefits Davis will receive include vacation, sick leave, and participation in company medical and dental insurance programs. He will also be reimbursed for travel, meals, and accommodations, the proxy said.

If Davis is fired for cause he gets nothing other than the salary and vacation to which he is entitled, but if he leaves the company for any other reason, he will be sitting pretty, according to the SEC filing.

If GateHouse determines Davis no longer fits in with the company he will receive a year's salary, any unpaid bonus and continuation of his insurance coverage.

As good as Davis' deal is...and believe me, it is good...it pales in comparison to the benefits and salary received by the man who hired him, GateHouse Media CEO Michael Reed, the former CEO of Joplin Globe parent company Community Newspaper Holdings, Inc.

Reed received $925,000 in total compensation in 2007, including a half million in base salary. His compensation in 2006 was valued at more than $6.4 million, including $4.299.000 worth of stock (which was a much better deal at the time than it would be now).

The winding down of Champion's GateHouse career was not without financial benefits, as noted in earlier Turner Report posts. During 2009, Champion received two bonuses, totaling $185,000.