Honolulu daily papers now have one owner - Pacific Business News (Honolulu):
Gannett Co. Inc. on Monday.
The purchase includes the Advertiser’s website, its nondaily publications, 101 Things to Do Inc. and Gannett’s interest in Hawaii.com.
Terms of the sale were not disclosed.
Gannett (NYSE: GCI) has owned the Advertiser for 17 years. Oahu Publications cleared its last hurdle last week when the U.S. Justice Department approved the sale.
Honolulu Star Advertiser.
The merger is expected to result in mass layoffs.
HA Management Inc., an outside management firm, is operating the Advertiser until the papers can be combined within the next few months.
Advertiser President and Publisher Lee Webber told employees that only those who accepted an offer from HA Management should report for work Monday, according to an e-mail sent to staff on Friday.
In the past 10 years, we went from 2 relatively healthy papers, to the Star Bulletin almost dying and being saved by Mr. Black and becoming a viable entity to becoming the owner of the paper that almost put it under.
What a change of roles