The Target Report Releases September Deals, Court Filings, Closures (Includes Chart)
Fortress Investment Group, through an affiliate, purchased The Dow Jones Local Media Group, publisher of eight daily and 15 weekly community newspapers. Fortress handed the management of its new acquisition over to GateHouse Media, one of its other portfolio companies, which itself publishes more than 400 community and local newspapers and shoppers. It became clear later in the month as to at least one reason that Fortress used a different entity to purchase the Dow Jones Media Group when it placed GateHouse Media and 41 related entities into Chapter 11 bankruptcy. In a concurrent filing of a prepackaged reorganization exit plan, the company has requested the Court’s approval of the elimination of approximately $720 million debt, for which it claims to have sufficient lenders on board. If approved, the plan of reorganization calls for GateHouse Media and Local Media Group to be combined under the common ownership of New Media Investment Group.
Mark Hahn is a managing director and founder of Graphic Arts Advisors, a boutique strategic financial advisory and consulting firm focused exclusively on the printing, packaging, mailing, marketing services, brand management, and related graphic communications industries. With more than 35 years of graphic communications experience in the areas of finance, operations, sales, M&A, and general management, Hahn has served as chief financial officer, chief operating officer and other senior positions with several commercial printing companies, as well as founding and eventually selling his own printing company.The firm assists company owners and management, as well as their lenders, investors and shareholders in the following areas: mergers and acquisitions, sale of business, strategic and financial advisory, capital structure and funding, financial analysis, interim and turnaround C-level management, business valuations and serving as consulting experts. Hahn is the author of The Target Report and is regularly published and quoted in printing industry trade and management journals. Mark Hahn can be reached at (973) 588-7399 or mark@graphicartsadvisors.com