CNHI

CNHI, LLC (formerly Community Newspaper Holdings, Inc.) is an American publisher of newspapers and advertising-related publications throughout the United States. The company was formed in 1997 by Ralph Martin,[1] and is based in Montgomery, Alabama[2] (after moving from Birmingham, Alabama in September 2011). The company is financed by, and is a subsidiary of, the Retirement Systems of Alabama.

CNHI, LLC
Formerly
Community Newspaper Holdings, Inc.
Subsidiary
IndustryNewspaper publishing
Founded1997
FounderRalph Martin
Headquarters
Montgomery, Alabama
,
USA
Key people
George Wakefield (Chairman)
Donna J. Barrett (President and Chief Executive Officer)
Chris Cato (Chief Financial Officer)
Revenue$520 million USD (2009)
Number of employees
6,501 (2007)
ParentRetirement Systems of Alabama
Websitewww.cnhi.com

History

The company has been formed by acquisitions. It started by acquiring many of the smaller former Park papers from Media General. Two years later, it bought several papers from Hollinger International. In 2000, it acquired another batch of papers from the Thomson Corporation.

In 2002, CNHI paid $182 million for 4 daily newspapers and other non-daily publications from Ottaway Newspapers Inc., the community newspaper group of Dow Jones & Co. Inc., that Ottaway had determined not to be growth markets.[3] In 2006, the company acquired 6 more newspapers from Ottaway.[4] Ottaway used $144 million of the 2002 sale to buy the Record newspaper in Stockton, California, in 2003.[5] In September 2013, Dow Jones, which had renamed the properties as Dow Jones Local Media Group, sold the entire remaining group of 33 community newspapers to Newcastle Investment Corp. for a total of only $87 million.[6] In 2007, CNHI sold the Santa Cruz Sentinel, a former Ottaway publication, to MediaNews Group.[7]

As of 2006, CNHI owned 90 daily newspapers and more than 200 non-daily newspapers in 22 states. George Wakefield is CNHI chairman; Donna Barrett is president and CEO. CNHI newspapers are clustered in groups that cross-sell packages to advertisers[1] and occasionally feature shared editorial content.

In 2009, CNHI implemented mandatory furloughs for most non-sales staff, requiring employees to take a mandatory week off without pay every quarter. As of 2015, these DOWOP (days off without pay) were still in effect. Also in 2014, most CNHI newspaper sites put a paywall into place, requiring readers to subscribe after reading 5 articles.

On June 24, 2010, the company announced that it would relocate its headquarters and about 70 jobs to Montgomery, Alabama, into the RSA Dexter Tower Building when that building is complete in late 2011 or early 2012.[8] Like its former headquarters in Birmingham, the new building is owned by Retirement Systems of Alabama, which is the principal source of investment funding for CNHI. David G. Bronner, CEO of the RSA, said the move will be good for the community and the company. The Montgomery Advertiser newspaper reported that Bronner was a key player in the move. With CNHI's Birmingham lease expiring, the decision to bring the company to Montgomery "was something that I strongly suggested," he said, according to the newspaper. The city and Montgomery County offered $300,000 in incentives to pay moving costs for the company.[8]

In April 2012, along with GateHouse Media, Lee Enterprises and the E. W. Scripps Company, CNHI invested in Find n Save, an online company which offers local media an online shopping platform.[9]

On September 25, 2017, Raycom Media announced that it would merge with CNHI. Both companies are already principally owned by Retirement Systems of Alabama, and there were be administrative and content synergies between the properties. CNHI continued to operate as a subsidiary of Raycom. To comply with FCC newspaper cross-ownership restrictions, CNHI was to divest papers in the seven markets where Raycom also owns television stations.[10][11][12]

In January 2018, CNHI announced it would be moving to a regional editor system where a small number of editors would oversee coverage of regions and states.[13]

On June 25, 2018, Gray Television announced it would be acquiring Raycom's television assets. CNHI was not included in the sale to Gray and CNHI is currently seeking to sell off its newspapers, as a whole or piecemeal.[14][15] With the completion of the purchase on January 2, 2019, the newspapers were re-organized to a direct subsidiary of RSA as Raycom ceased to exist.[16]

CNHI newspapers
Main article: List of newspapers published by CNHI

As can be inferred by its name, CNHI tends to acquire newspapers in smaller markets and suburbs of larger cities. Few of its dailies have circulations above 20,000; exceptions include:

gollark: Meanwhile, osmarks internet radio™ is accessible online™ at https://osmarks.tk/radio/.
gollark: Exactly. Thus your website is inferior.
gollark: At least my website has content on it and says things other than "Web Server Down Error 489".
gollark: osmarks internet radio™ > everything of madpro networks
gollark: YOU.

See also

References
  1. Company History: Community Newspaper Holdings Inc. at Answers.com (accessed March 31, 2010)
  2. "Community Newspaper Holdings, Inc.: Private Company Information — Businessweek". investing.businessweek.com. Retrieved 22 May 2012.
  3. "The Herald, Sharon, Pa". Retrieved 10 May 2016.
  4. "CNHI to acquire 6 dailies from Dow Jones". CNHI. November 1, 2006. Archived from the original on 2014-05-27. Retrieved May 26, 2014.
  5. "Dow Jones' Ottaway Community Newspaper Group To Acquire The Record --Stockton, CA--". 16 April 2003. Retrieved 10 May 2016.
  6. "News Corp. sells 33 papers to New York investors". New York Business Journal. 2013-09-04. Retrieved 2018-11-26.
  7. "MediaNews Group, Inc. acquires Santa Cruz Sentinel". CNHI. February 2, 2007. Archived from the original on 2014-05-27. Retrieved May 26, 2014.
  8. "Community Newspaper Holdings moving headquarters to Montgomery". Burmingham Business Journal. February 4, 2011. Retrieved May 26, 2014.
  9. "Find n Save Announces Additional Investment by Four More Major Media and Publishing Companies; Launch of 125th Affiliate". MarketWatch. Retrieved 22 May 2012.
  10. Eggerton, John (2017-09-25). "Raycom Buying CHNI Newspapers". Broadcasting & Cable. Retrieved 2018-11-26.
  11. West, Ty (2017-09-25). "Two Alabama media giants to join forces". Birmingham Business Journal. Retrieved 2017-09-27.
  12. Miller, Mark K. (2017-09-25). "Raycom Sees Synergies In Newspapers Buy". TVNewsCheck. Retrieved 2017-09-27.
  13. "CNHI Publishing Company Forms Regional Editor System". U.S. News and World Report. Associated Press. 26 January 2018.
  14. "CNHI explores sale of newspaper company". Montgomery Herald. 2018-07-02. Retrieved 2018-11-26.
  15. "GRAY AND RAYCOM TO COMBINE IN A $3.6 BILLION TRANSACTION" (PDF).
  16. "CNHI explores sale of newspaper company". Daily Journal. 2019-01-03. Retrieved 2019-01-03.
  17. Audit Bureau of Circulation "eCirc" data for six months ending September 30, 2006. Accessed December 10, 2006. Figures are approximate.
  18. CNHI-CAN Circulation, figures for an undetermined date, accessed January 17, 2007. Figures are approximate.

Further reading
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.