Herald Publisher Pat Purcell just announced the sale of paper to GateHouse Media - and the Chapter 11 bankruptcy of the Herald, Herald business reporter Bob McGovern reports. Purchase price: $4.5 million.
Gatehouse already owns many of the newspapers left in Massachusetts, including the Worcester Telegram, the MetroWest Daily News and the Quincy Patriot Ledger, and often make dramatic staffing cuts as it centralizes production and reporting in locations often far from the communities its newspapers cover.
Boston will remain one of the few American cities left with two competing daily newspapers, although it will now lose the distinction of having two locally owned daily newspapers.
The Herald once owned many of the suburban papers that now make up GateHouse's holdings in eastern Massachusetts. The Herald sold them off for $225 million in 2006.
Red eyes in the newsroom. Hung heads.