The story
Liberty Group Publishing
Liberty Group Publishing was formed in 1998 when Kenneth L. Serota, a former Hollinger International attorney with backing from Leonard Green & Partners, bought 160 community newspapers from Hollinger. Headquartered in Downers Grove, Illinois, Liberty then expanded the network increasing the total newspapers to 330 by 2000. Faced with problems, it downsized to 270 by June 2005.
GateHouse Media
In June 2005, Fortress Investment Group bought Liberty for $527 million. Fortress expanded it to 75 dailies, 231 weeklies, 117 shoppers, and 230 websites. It was renamed GateHouse and its headquarters moved to suburban Rochester, New York, in April 2006. In October 2006, GateHouse had its IPO with Fortress maintaining 60% ownership. On October 23, 2007, GateHouse announced the purchase of 14 daily newspapers and other publications from Morris Communications.
The company received notification from the New York Stock Exchange (NYSE) on August 21, 2008, that it had fallen below the NYSE's continued listing standards for average global market capitalization over a consecutive 30-trading-day period of not less than $75 million and $1.00 average closing price, and had submitted a business plan to the NYSE Regulation for coming back into compliance for continued listing. The company has been in communication with the NYSE regarding its noncompliance with continued listing standards, but was unsuccessful in its efforts to avoid suspension and delisting.
From Wikipedia’s article on GateHouse Media, shared under CC BY-SA 4.0.4