Providence Journal sold to GateHouse parent for $46 million
WPRI - 07/22/2014
The announcement of A.H. Belo’s deal with New Media will kill speculation – and, in some quarters, hopes – that the newspaper could be purchased by a civic-minded group of local investors. The only such unsuccessful group whose attempt became public was led by Barry Fain, John Howell, Matthew Hayes and Arnold “Buff” Chace Jr.
“It’s a shame that the Providence business community couldn’t put together a deal to return the Journal to local ownership,” Dan Kennedy, an associate professor at the Northeastern University School of Journalism and a longtime media watcher, told WPRI.com in an email.
“Based on their track record, the new owners can be expected to make cuts, which will diminish the paper’s ability to cover the community and the state,” Kennedy said. “But other papers the company owns, including the Cape Cod Times and the Standard-Times, continue to serve their readers well, and I expect that will be the case with the Journal, too.”