Memphis Flyer

Board members of Gannett Co., corporate owner of The Commercial Appeal, are reviewing an unsolicited acquisition proposal from MNG Enterprises, Inc., a large newspaper chain with a reputation for cutting staff.

Gannett bought The Commercial Appeal and other former Scripps newspapers in 2015, in a deal valued at $280 million. Since then, the Memphis newspaper cut its staff in several rounds of layoffs, saw the exodus of numerous editorial veterans to the new digital startup The Daily Memphian, and hired a number of new reporters.

News of the proposal surfaced first in the Wall Street Journal on Sunday.

Gannett issued a formal statement on the proposal Monday morning on the investor relations page of its corporate website.

“Gannett today confirmed that it has received an unsolicited proposal from MNG Enterprises Inc. to acquire Gannett for $12 per share in cash,” reads the statement. ”Gannett’s stock closed at $9.75 on Friday, Jan. 11th, 2019.

“Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Gannett board of directors will carefully review the proposal received to determine the course of action that it believes is in the best interest of the company and Gannett shareholders. No action needs to be taken by Gannett shareholders at this point.”

In a post Monday morning, Columbia Journalism Review’s Jon Allsop wrote that the proposal troubles some media watchers.

Here’s a part of what Allsop wrote:

“The scoop might normally have passed under the radar as standard-issue jockeying — except MNG Enterprises is better known as Digital First Media, the prolific private-equity-backed publisher that has become an industry byword for cost-cutting and job-slashing.

“The largest shareholder of Digital First Media, which owns about 200 publications nationwide, is Alden Global Capital, a New York-based hedge fund that specializes in investing in troubled companies.

“The names Digital First and Alden made headlines last April after flagship paper The Denver Post ran an editorial excoriating them as ‘vultures’ alongside a striking all-staff photo, from 2013, with tens of since-laid-off employees blacked out
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Justin Fox Burks

“A few weeks later, the editor of a neighboring Digital First title, Boulder’s Daily Camera, was fired over a similar rebuke; then, in early May, the Post’s editorial page editor himself resigned, accusing Digital First executives of further attempts at censorship (CJR published a critical editorial he said was spiked).

“As tensions rose, staffers from Digital First papers as far away as California traveled to protest outside Alden’s New York offices. Buyout campaigns were mooted, then fizzled.

“Given this raw context, yesterday’s Journal report elicited immediate concern among media reporters and local-news watchers, many of whom noted that Gannett titles nationwide are in a sad enough state without the prospect of further cuts.”

Gannett sold The Commercial Appeal building at 495 Union in April 2018 and planned to move its staff within a year. The company is now considering new locations.

Center City Development Corp.

A rendering of the inside of Grind City Brewing’s taproom.

A brewery, an Airbnb hotel, and artist loft walk into the Center City Development Corp. (CCDC)….alright, that’s pretty lame.

But next week developers of Grind City Brewing, Ambassador Hotel, and The Medicine Factory will get a review (and possible nod) from the CCDC, a committee of the Downtown Memphis Commission (DMC), for grants and loans that will help them fund their projects Downtown.

Here are the basics:

Center City Development Corp.

A rendering of the inside of Grind City Brewing’s taproom.

Grind City Brewing
What: brewery and taproom
Where: 83 Waterworks
Request: grant of $55,697.50
For what: demolition of front warehouse wall, paint, installation of roll-up openings.

Grind City developers announced last year they planned to open a brewery in an industrial part of northern Downtown on the east bank of the Wolf River Harbor.

“We are developing a state-of-the-art brewery and taproom that is unique to the city of Memphis,” the company wrote in its request to the CCDC.

The CCDC staff recommends the grant.

“Local breweries and taprooms have the power to be catalysts for economic development in emerging neighborhoods,” reads the staff report. “Taprooms can be draws for people and additional investment to vacant buildings and sites in the neighborhood.

”Local breweries and taprooms also function as informal community hubs and places for residents and visitors alike to gather.”

Center City Development Corp.

The proposed new exterior of the Ambassador Hotel.

Ambassador Hotel

What: apartments, Airbnb hotel, “well-known hospitality company”
Where: 345 S. Main St.
Request: loan of up to $200,000; grant up to $60,000
For what: exterior improvements, general renovations

From the developer, Collierville’s GEM Investments:

“The top two floors will provide a mixture of long-term and short-term rentals, dependent on demand. The market currently is lacking in short term rental units operated on platforms such as Airbnb and Homeaway. The project will meet that demand by master leasing the top two floors to an international short-term rental manager.
“The bottom floor will be occupied by a well-known hospitality company, helping build the food scene of the South Main District.“

The CCDC staff likes it:

“This project is clearly aligned with the DMC’s primary goals of improving commercial property values, encouraging new investment, and fighting blight,” reads the staff report. “With major neighborhood investments underway or recently completed at Tennessee Brewery, Central Station, Artspace Lofts, Malco Theater, Arrive Hotel, Slider Inn, Oden Marketing, Wiseacre, Museum Lofts, Century House, and the Arcade building, this project will only add to the significant momentum seen in South Main.”

Center City Development Corp.

A current view outside The Medicine Factory.

The Medicine Factory

What: artist lofts
Where: 85 W. Virginia Ave.
Request: loan of up to $150,000
For what: general renovations

Phillip and Joseph Lewis bought the warehouse property last year. The space has been used as artists’ studios for the last decade and now has nine studios. The new owners want to improve the building and offer more artists lofts and create a an event space “while maintaining the industrial look of the building.”

Center City Development Corp.

A current view inside The Medicine Factory.

The CCDC staff recommends the loan:

“Maintaining a vibrant arts community is crucial for any thriving Downtown,” reads the report. “Often, as development and investment in an area increases, it can make become challenging for artists to find studio spaces in the midst of a hot real estate market.

“This renovation will help preserve The Medicine Factory as an active studio space for local artists, while increasing its capacity to serve additional artists.”

All of the projects will get CCDC review on Wednesday, Jan. 16th.

Justin Fox Burks

Women’s March in Memphis

A Memphis activism organization is planning two events this month to continue the positive momentum in activism and highlight the number of elected women on a local and national scale.

Tricia Dewey, one of the organizers, said the events planned by Memphis Women’s March Collective are intended to help activists and communities stay mobilized on civil rights, LGBTQ rights, poverty issues, immigration, education, criminal justice reform, health care, all progressive women’s issues, and “the freedoms that make America great.”

Co-hosted by the Tennessee Young Democrats Women’s Caucus, the first event is a march slated for Saturday, January 19th. Beginning at Memphis City Hall and ending at the Judge D’Army Bailey Courthouse, the march will feature speakers, entertainment, and music.

Justin Fox Burks

Women’s March 2018

One week later, the group plans to hold their 2019 Legislative and Action Rally at Clayborn Temple for networking and connecting purposes. Speakers at the event will touch on local and statewide issues like health care, gun control, and immigration. They will also outline ways that activists can continue to make a difference in those areas.

The rally is inspired by the 2018 March to the Polls Rally, Sondra Tucker, a co-organizer of the event, said. She adds that the 2018 rally helped get six of its featured speakers elected positions in Shelby County and on the state level.

“The event is another opportunity for interested folks to plug into actions and to work together to get their voices heard,” Tucker said. “This year’s rally is not only a chance for people of all genders, races, and nationalities to come together, but also to realize that Memphis gained some momentum with a countywide sweep by Democrats and progressive candidates that included many women and women of color that was noticed nationally.

The women’s inaugural march took place Downtown in 2017, with more than 9,000 demonstrators in attendance, one of the organizers of this year’s events, Kayla Gore said.

Signs used in last year’s Women’s March

“We had people excited about a march this year,” Gore said. “We had people excited about continuing to do the work.

“There was energy, So we decided to organize both a march and a rally. There is plenty of work to do on women’s issues in Memphis and Shelby County.”

Tami Sawyer, Memphis activist and Shelby County Commissioner, said she’s excited about the momentum that’s been built from the 2017 march, which she believes brought awareness and change to the city.

“In 2018, we showed we could win elections and also impact elections in areas that are not traditionally progressive,” Sawyer said. “This year’s rally is another way to keep our momentum going. We have shown that the future is female.

“I am very proud of every woman in Memphis, Shelby County, Tennessee, and the United States who stepped up and ran for office. Many of us won our races and are ready to bring change to the status quo.”

The Facebook pages for the events indicate that more than 2,500 people are interested in attending either. More info, as well as ways to volunteer can be found here.

Memphis Light, Gas & Water (MLGW) will help keep the lights on for government employees affected by the partial shutdown of the federal government.

The shutdown is now in its 21st day, tying for the longest lapse in federal funding in history, according to CNBC. Around 800,000 federal employees are furloughed and on Friday they’ll miss their first paychecks.

Any of those employees in Memphis can keep their utilities running as MLGW enacted its hardship policy Friday.

“Under this policy, furloughed employees experiencing temporary, financial hardship are able to make payment arrangements, which can prevent an interruption in utility services,” reads a statement from MLGW.

Anyone interested in the program should gather their furlough documents and call (901) 544-6549 or visit an MLGW community office.