The Monroe News, which serves southeastern Michigan, was sold to New Media Investment Group, which is the holding company for the GateHouse Media newspaper group. The Monroe News was an employee owned paper.
“The changing media environment has been very tough on single, stand-alone newspaper companies like us,” said Steve Gray, chairman of the MPC board of directors. “Despite the team’s best efforts, it became clear that our employee shareholders needed to be able to diversify their holdings.”
The paper was family-owned from its founding in 1927, becoming fully employee owned in 1999.
My advice to Monroe News staffers: Start a group blog immediately. That way, you will have some place to write when GateHouse starts firing people.