Expected to step in to lead finances for now is current Gannett treasurer Mark Maring. Maring served as treasurer of GateHouse Media for 10 years before the merger with Gannett in November 2019, in a $1.2 billion deal.
The company is looking for Engel’s permanent replacement.
Paul Bascobert, Gannett Media Corp. CEO, stated: “[Engel] has been a tireless leader and advocate for our mission and helped us to successfully navigate both a proxy fight and merger this past year. We wish her all the best as she considers her next adventure.”
At the time of the merger, Engel was announced as CFO of the newly formed operating company, with Bascobert being named CEO of operating company. The company is currently searching for a CMO.
Michael Reed, who remained chairman of the board and CEO of the combine pubic company, stated that while cuts would be inevitable, none would come from editorial.
The company anticipated $275 million to $300 million in annual cost synergies following the merger.
In December, Gannett began to issue buyouts and layoffs across its newspapers and corporate offices. Florida Times-Union reporter and president of its employee union, Andrew Pantazi, compiled Gannett layoffs in a Google Docs spreadsheet. The layoffs span 60 of the publisher’s divisions, including newspapers such as the Austin American-Statesmen, Asbury Park Press and the Fort Myers News-Press/Naples Daily News, which counted 56 layoffs at the time.
Separately, today, Gannett-owned Columbus Dispatch announced the printing and production of its papers will move to Indianapolis, resulting in the layoffs of 188 employees.“For local journalism to remain strong in modern society, the newspaper business must adapt and change to serve both print subscribers and a rapidly growing digital audience – while also making money to support all of that,” stated Alan D. Miller, executive editor-interim general manager of the Dispatch Media Group, commenting on the plant closing.