This Week
  • CEO David Boyce has Tompkins Insurance Agencies on a growth path.

  • ROC the Future gives update on milestones for local education system.

  • The Greater Rochester Awards honorees are profiled.

  • Aware of challenges, private schools work to build a sustainable future.

  • Mech Tech HVAC CEO Edward Burns expects the firm to log solid growth in 2014.

  • Owner of U.S. Ceiling Corp. uses digital estimation to save time and stay competitive.

GateHouse top executives get bonuses

Rochester Business Journal
January 2, 2013

GateHouse Media Inc. has announced annual cash bonuses for its executive officers.

The company last week said five members of its executive team, led by CEO Michael Reed, would have bonuses paid out before the end of 2012. Reed received a cash bonus of $800,000.

Chief operating officer Kirk Davis received $350,000. Polly Sack, senior vice president, secretary and general counsel, received $140,000, while Melinda Janik, chief financial officer, received $125,000. The company’s treasurer Mark Maring received $80,000.

GateHouse is the parent company of the Messenger Post newspapers. GateHouse publishes more than 75 daily publications across 21 states.

Reed and his team spent most of last year focused on growing its digital initiatives. Still, during the first three quarters of 2012, GateHouse saw its revenues decline when compared to the previous year.

During the first and second quarter, the company managed to trim its net loss by cutting costs. In November, however, GateHouse reported its net loss grew during the third quarter.

Reed attributed the loss to investment in strategic initiatives, specifically GateHouse’s digital solutions for small and midsize businesses.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google