CherryRoad Media
| Company type | Private |
|---|---|
| Industry | News media |
| Genre | Publishing |
| Founded | 2020 |
| Founder | Jeremy Gulban |
| Headquarters | 6 Upper Pond Road, Parsippany, New Jersey, |
| Revenue | $30 million (2024) |
Number of employees | 500 (2024) |
| Parent | CherryRoad Technologies Inc. |
| Website | cherryroad-media |
CherryRoad Media is an American newspaper publisher based in New Jersey. It is the communications division of CherryRoad Technologies and was founded in 2020 by its CEO Jeremy Gulban. The company specializes in weekly publications in rural communities. It has received national media attention for rapidly buying and launching new titles amid the decline of newspapers.
As of May 2024, the company has acquired or started 85 newspapers across 18 states. Most of these papers print weekly, but three print five times a week and about a dozen print two or three times a week. CherryRoad Media employs around 500 people and Gulban expects revenue to be around $30 million for 2024.[1]
Business operations[edit]
Expansion strategy[edit]
CherryRoad Media owns newspapers in rural communities across the United States, with a large number of them bought from Gannett. Print circulations for these papers are typically in the hundreds to low thousands.[2] The company acquired so many titles in its first two years of operation that in 2022 it owned the eighth largest number of newspapers in the United States.[3] CEO Jeremy Gulban has not publicly disclosed how much the company pays to acquire a newspaper, but in 2022 he said someone who wanted to buy a small weekly "probably could do so for less than $100,000."[2]
Some of the newspaper's CherryRoad has acquired were absorbed into titles with a larger circulation[4][5] or merged together to create a new publication.[6][7] The company on at least three occasions launched new titles in markets where papers had recently shuttered, often hiring on staff from the closed papers.[8][9]
Newsroom operations[edit]
CherryRoad Media typically employs one or two people on the editorial-side of its newsrooms.[1] Small weeklies often have one full-time and one part time reporter. Larger papers have around two or three workers in the newsroom.[10] CherryRoad uses it's own web-based content-management system and its websites come equipped with a paywall.[11] Gulban said the company strives to minimize regional and national content it its papers, excluding its daily newspapers, and focus on local stories.[11]
The company tries to employ an advertising sales representative based in every market where they operate, but Gulban said local ad and page designers are "a luxury that we can't afford."[11] CherryRoad uses several third-party software tools on the business-side of its newsrooms. The company employs the Community Publishing System, made by Software Consulting Services, to handle selling advertisements[12] and uses the Column software tool to manage public notices.[13]
Revenue streams[edit]
CherryRoad Media runs its newspaper operations at a relatively low profit margin. Gulban said he could "get a steady 10% margin" from subscriptions and ad sales "and then drive other revenue at a higher margin out of it." The business is supplemented by offering technology services like designing, launching and hosting websites.[3] The company offers “newspaper as a service” software, such as cloud-based storage and circulation systems.[1] To cut costs, CherryRoad will move a newly acquired newspaper's office to a cheaper location when the lease ends.[3] As of May 2024, the company has not turned a profit.[1]
Printing operations[edit]
CherryRoad Media owns at least three newspaper printing presses: the Hutchinson operation in Kansas,[14] Eagle Print in Ohio [15] and Page 1 Printers in Minnesota.[16] The printing of the company's papers are done at these sites, or else outsourced to other businesses.[11]
History[edit]
Origins[edit]
In 1983, Michael Gulban started a technology company in New Jersey called DataStudy Inc. The business' name was changed 20 years later to CherryRoad Technologies,[17] which came from the firm’s original address.[8] The company's roots were in complex software implementation and financial reporting systems, often for local government agencies. Over time it became an internet service provider offering cloud computing platforms and programs for hosting multiple websites.[8]
Michael Gulban's son Jeremy Gulban, a graduate of Drew University where he majored in economics and minored in political science,[8] took over operations in 2008[17] after working 10 years in Chicago.[2] After the onset of the COVID-19 pandemic in the United States in 2020, CherryRoad created software applications for virtual meetings and remote learning and offered them for free to school districts and local governments, but none were interested.[2] So Jeremy Gulban said the company turned its attention toward using the technology to improve community newspapers.[2]
In November 2020, Jeremy Gulban founded CherryRoad Media with the purchase of the Cook County News-Herald, a weekly newspaper in Minnesota.[17] The previous owners Hal and Deidre Kettunen had owned the newspaper since 2008.[18]
2021[edit]
In February, CherryRoad purchased five former properties of Rust Communications in Missouri: Carroll County News in Berryville, the Lovely County Citizen in Eureka Springs, the Salem News, the Villager Journal of Cherokee Village and the Clay County Times-Democrat of Piggott/Rector.[2]
The seventh newspaper the company acquired was The Clayton Record in Alabama.[19] The sale was completed in August.[20][21]
In June, CherryRoad purchased four weekly newspapers in Arkansas: The Mountaineer Echo of Flippin, the Marshall Mountain Wave, the Clay County Courier in Corning and the Pocahontas Star Herald.[2]
CherryRoad tried to buy the International Falls Journal from Alden Global Capital but the company chose to close the paper instead in June.[8][22] Alden had owned the paper since 2020 as part of its acquisition of Minnesota-based Red Wing Publishing Co.[22] In response to the closure, CherryRoad launched the Rainy Lake Gazette about three weeks later in July.[8][17]
In September, CherryRoad purchased 20 publications from Gannett. The sale included 13 Kanas papers: the Hays Daily News, the Garden City Telegram, the Leavenworth Times, the St. John News, the Kiowa County Signal, the Dodge City Daily Globe, the McPherson Sentinel, the Butler County Times-Gazette, the Wellington Daily News, the Ottawa Times, the Newton Kansan, the Pratt Tribune and the Penny Press in Hiawatha.[23]
The Gannet sale also included two newspapers in Nebraska: Nebraska City News Press and Syracuse Journal-Democrat; four Missouri papers: Independence Examiner, Chillicothe Constitution-Tribune, Boonville Daily News, Linn County Leader; and the Hamburg Reporter in Iowa.[24] The purchase of the newspapers went into effect Oct. 1.[23]
In December, CherryRoad purchased four Colorado newspapers from Gannet: La Junta Tribune-Democrat, the Fowler Tribune, Bent County Democrat and Ag Journal.[25] That same month the CherryRoad Media announced its acquisition of seven rural Minnesota newspapers from Gannett:[26] the Crookston Times, Granite Falls Advocate Tribune, Montevideo American-News, Redwood Falls Gazette, St. James Plaindealer, Sleepy Eye Herald-Dispatch and the Tri-County News in Cottonwood.[17]
2022[edit]
In January, CherryRoad founded its second start up newspaper, the Lake County Press, in Lake County, Minnesota.[17] In February, CherryRoad purchased several Gannett-owned newspapers in Texas and Oklahoma.[27]
In September, CherryRoad purchased four weekly papers in Massachusetts purchased from Gannett. The sale included The Landmark in Holden, the Leominster Champion, the Millbury-Sutton Chronicle and The Grafton News. The acquisition averted the planned Sept. 15 closure of The Landmark.[28]
That same month CherryRoad acquired three weekly Utah newspapers from Brehm Communications Inc., including The Richfield Reaper, The Vernal Express and the Uintah Basin Standard.[29]
In November, CherryRoad purchased The Star-News in Idaho from Central Idaho Publishing.[30] That same month CherryRoad purchased The Clinton Item, another Massachusetts paper, from Gannett.[31]
2023[edit]
In February, CherryRoad acquired the McPherson News Ledger and absorbed it into the McPherson Sentinel.[4][32]
In August, CherryRoad purchased several Kansas newspapers from the family owned The News-Press Gazette & Company, including the Miami County Republic, the Atchison Globe and the Hiawatha World. The sale also included two papers based in Liberty, Missouri: the Courier-Tribune and the Gladstone Dispatch.[33]
Also in August, CherryRoad acquired the Hutchinson, Kansas, printing operations from Gannett. At the time, the facility printed most of CherryRoad's Kansas publications as well as numerous other newspapers in the area.[14] That same month, CherryRoad acquired eight community newspapers and Eagle Print from Delphos Herald, Inc. The sale included Ohio papers the Delphos Herald, Van Wert Times Bulletin, the Putnam County Sentinel, the Paulding Progress, the Ada Herald, the Putnam County Vidette, Monroe County Beacon and The Register in Lawrenceburg, Indiana.[15]
In September, the Villager Journal of Cherokee Village and the Salem News, which CherryRoad purchased in February 2021, were merged together into a single publication called Areawide News.[6] The Pratt Tribune, Kiowa County Signal and St. John News were merged to form Tri-County Tribune. CherryRoad acquired all three papers in September 2021.[7] The Fort Leavenworth Lamp, which was acquired from Gannet in 2021, was closed.[34] The AG Journal ceased and the Fowler Tribune was absorbed into the La Junta Tribune Democrat following Gannett closing The Pueblo Chieftain's printing operation.[5]
In October, the company acquired the Moberly Monitor-Index from Westplex Media Group.[35]
2024[edit]
In January, CherryRoad purchased Page 1 Printers, a commercial printer based in Slayton, Minnesota, from Graphic Arts Advisors, LLC.[16]
In April, the company announced plans to launch two new Minnesota papers in Hutchinson and Litchfield. This was in response to MediaNews Group announcing the closure of the Hutchinson Leader and Litchfield Independent Review. The newly created Hutchinson Station and Litchfield Rail launched in May.[36][9]
Publications[edit]
References[edit]
- ^ a b c d Dudley, Brier (2024-05-03). "Catching up with — and rooting for — an entrepreneur taking a chance on fixer-upper newspapers". The Seattle Times. Archived from the original on May 7, 2024. Retrieved 2024-05-07.
- ^ a b c d e f g Massey, Kyle (May 23, 2022). "NJ Buyer Dives Into Weeklies, Finds Arkansas Star". Arkansas Business. Archived from the original on May 13, 2024. Retrieved 2023-09-04.
- ^ a b c Burns, Greg (2022-07-13). "Meet the regional newspaper barons building large chains around the country". Poynter. Retrieved 2024-05-13.
- ^ a b Gosnell, Nick (2023-02-03). "Cherry Road Media to combine two McPherson papers". Hutch Post. Archived from the original on May 7, 2024. Retrieved 2024-05-07.
- ^ a b Zemba, Joe (2023-08-10). "Changes are coming to The Fowler Tribune following closure of Pueblo printing press". La Junta Tribune-Democrat. Retrieved 2024-05-11.
- ^ a b Marshall, Vincent (September 5, 2023). "Changes coming to The News, Villager newspapers". Salem News. Archived from the original on December 17, 2023. Retrieved September 6, 2023.
- ^ a b Stultz, Jennifer (2023-09-06). "The Tri-County Tribune is here to serve, here to stay". Tri-County Tribune. Retrieved 2024-05-11.
- ^ a b c d e f Borzi, Pat (2022-02-04). "Why a New Jersey technology firm bought a bunch of newspapers in Greater Minnesota. And what it wants to do with them". MinnPost. Archived from the original on February 4, 2022. Retrieved 2023-09-04.
- ^ a b Lindrud, Shelby (April 28, 2024). "CherryRoad Media to fill newspaper void in Litchfield and Hutchinson, Minnesota". InForum. Retrieved 2024-05-13.
- ^ Dudley, Brier (2021-10-01). "Civic-minded tech exec buys 20 newspapers from Gannett". The Seattle Times. Archived from the original on October 4, 2021. Retrieved 2024-05-14.
- ^ a b c d Cross, Al (2023-07-13). "The Rural Blog: New to the trade, Jeremy Gulban has more former Gannett papers than anyone; he says success is up to communities". The Rural Blog. Retrieved 2024-05-13.
- ^ "How CherryRoad Media uses technology to revitalize community newspapers across the nation" (PDF). Software Consulting Services. March 14, 2023. Retrieved May 13, 2024.
- ^ Atwood, Emmie (December 31, 2022). "Scaling New Process Across Publications with CherryRoad Media". Column. Retrieved 2024-05-13.
- ^ a b "CherryRoad Media Acquires Hutchinson Kansas Printing Operations from Gannett". KXAN-TV. Aug 29, 2023. Archived from the original on September 4, 2023. Retrieved 2023-09-04.
- ^ a b "CherryRoad Media acquires 8 newspapers, including Times Bulletin". Times Bulletin. 2023-08-29. Archived from the original on September 2, 2023. Retrieved 2023-09-04.
- ^ a b "Graphic Arts Advisors finds strategically aligned buyer and announces the sale of Page 1 Printers to CherryRoad". Editor & Publisher. 2024-01-24. Archived from the original on January 25, 2024. Retrieved 2024-01-25.
- ^ a b c d e f Choiniere, Alyssa (2022-08-02). "CherryRoad Media expands through rapid growth spurt". Editor & Publisher. Archived from the original on August 2, 2022. Retrieved 2023-09-04.
- ^ Larsen, Brian (December 4, 2020). "Cook County News-Herald has been sold". Boreal Community Media. Archived from the original on May 16, 2021. Retrieved 2023-09-04.
- ^ "Clayton Record owners visit Barbour County". Clayton Record. 2021-08-19. Retrieved 2024-05-07.
- ^ "Brokers report their 2021 publication sales". National Newspaper Association/Foundation. February 2, 2022. Retrieved 2024-05-07.
- ^ Massey, Kyle (2021-08-16). "Arkansas' Newest News Chain Owner". Arkansas Business. Archived from the original on May 13, 2024. Retrieved 2024-05-13.
- ^ a b Gilyard, Burl (2021-06-25). "Minnesota loses another newspaper as International Falls Journal ceases publication". MinnPost. Archived from the original on June 25, 2021. Retrieved 2023-09-04.
- ^ a b Stultz, Mark Roundtree and Jennifer. "Several Kansas Gannett papers are being purchased by CherryRoad Media". The Topeka Capital-Journal. Archived from the original on September 23, 2021. Retrieved 2023-09-04.
- ^ "CherryRoad Media Acquires 20 Newspapers in Four States". CherryRoad Technologies. 2021-09-24. Archived from the original on October 11, 2021. Retrieved 2023-09-04.
- ^ "CherryRoad Media acquires four Colorado newspapers". Editor & Publisher. 2021-12-06. Archived from the original on December 8, 2021. Retrieved 2023-09-04.
- ^ "Media company to buy area newspapers as of Jan. 1". The Journal . December 10, 2021. Archived from the original on December 19, 2023. Retrieved 2023-09-04.
- ^ Denwalt, Dale (January 24, 2022). "CherryRoad Media to buy Gannett newspapers in Texas, Oklahoma". The Oklahoman. Archived from the original on September 4, 2023. Retrieved 2023-09-04.
- ^ Cleary, Tara (2022-09-14). "CherryRoad Media buying four MA newspapers Gannett planned to close". New England Newspaper & Press Association. Archived from the original on September 15, 2022. Retrieved 2023-09-04.
- ^ "CherryRoad Media acquiring three Utah newspapers". Editor & Publisher. 2022-09-23. Archived from the original on October 6, 2022. Retrieved 2023-09-04.
- ^ Robertson, Autum (2022-11-03). "Star-News in McCall sold to New Jersey-based media company". BoiseDev. Archived from the original on November 3, 2022. Retrieved 2023-09-04.
- ^ Dore, David (October 25, 2022). "CherryRoad Media acquires The Item from Gannett; deal to close Nov. 1". Telegram & Gazette. Archived from the original on September 4, 2023. Retrieved 2023-09-04.
- ^ Napier, Aaron (2023-02-01). "Cherry Road Media Acquires McPherson News Ledger, Combining with Sentinel". Ad Astra Radio. Archived from the original on May 7, 2024. Retrieved 2024-05-07.
- ^ Carder, Doug (2023-08-02). "CherryRoad Media acquires The Miami County Republic". The Miami County Republic. Archived from the original on August 2, 2023. Retrieved 2023-09-04.
- ^ "Post notes Sept. 28, 2023". The Fort Leavenworth Lamp. September 28, 2023. Archived from the original on October 1, 2023. Retrieved May 10, 2024.
- ^ "Warren County Record publisher purchases Community News". Warren County Record. 2023-11-03. Archived from the original on November 28, 2023. Retrieved 2024-05-11.
- ^ Berg, Jenny (April 26, 2024). "As longtime Hutchinson, Litchfield papers close, 2 newspapers launch to take their place". Star Tribune. Archived from the original on April 27, 2024. Retrieved April 27, 2024.
- ^ "CherryRoad Media Owns and Operates These Newspapers". CherryRoad Media. Retrieved May 10, 2024.