21st Century Media was an American media company. It was the successor of Ingersoll Publications[1] and Journal Register Company, and it was succeeded by Digital First Media.[2]
The company operated more than 350 multi-platform products in 992 communities. On April 5, 2013, the assets of Journal Register Company and its affiliates were sold to 21st CMH Acquisition Co. The Journal Register Company then became known as 21st Century Media.[2]
The company was led by CEO John Paton. He argued that the Journal Register needed to transform from a newspaper company to a "digital first, print last" company. Paton, formerly CEO of ImpreMedia, initiated this change on February 1, 2010, by announcing he would provide all reporters with Flip video cameras as a sign of his commitment to the company's digital transformation.
The company owned daily and weekly newspapers, other print media properties and newspaper-affiliated local Web sites in the U.S. states of Connecticut, Michigan, New York, Ohio, Pennsylvania and New Jersey. It also operated 3 commercial printing facilities.
21st Century Media's flagship daily newspaper was the New Haven Register. Its ten largest daily newspapers (approximate daily circulation over 20,000) were:
In early 2008, the New York Stock Exchange announced it was planning to suspend trading of JRC's common stock. The stock had been below $1.05 for 30 consecutive days, at one point falling to 16 cents, which was the all-time low at that time. The stock was delisted as of April 16.
On February 21, 2009, the company filed for Chapter 11 bankruptcy in the US Bankruptcy Court, located in Manhattan, New York, NY.
On August 12, 2009, JRC emerged from bankruptcy as a private company.
On March 11, 2010, the company named Bill Higginson, Journal Register's former Senior Vice President, Production, as the company's president and COO. On March 4, 2010, the company named Jeff Bairstow as chief financial officer. Bairstow joined Journal Register after working for Synarc Inc., a leading provider of medical imaging analysis, subject-recruitment and biochemical-marker services.
On September 5, 2012, Digital First Media, parent company of JRC, confirmed the group had again filed for bankruptcy protection.[4]
On April 5, 2013, the assets of Journal Register Company and its affiliates were sold to 21st CMH Acquisition Co., an affiliate of funds managed by Alden Global Capital. The Journal Register Company then became known as 21st Century Media and continued to be managed by Digital First Media.[2]
^Hagey, Keach; Feintzeig, Rachel (September 6, 2012). "Journal Register in Chapter 11 Again". The Wall Street Journal. p. B3.
Further reading
Coleridge, Nicholas (March 1994). Paper Tigers: The Latest, Greatest Newspaper Tycoons (1st Carol Pub. Group ed.). Secaucus, N.J: Birch Lane Pr. ISBN9781559722155.
