The Herald & Review was named one of Editor & Publisher's "10 Newspapers That Do It Right" in 2019 for its use of government documents and public records to create substantive journalism.[1]
In 2018, the Herald & Review was recognized by Editor & Publisher for digital growth and other initiatives.[2] It also received top honors in the investigative reporting and public service categories in the Illinois Associated Press Media Editors 2017 newspaper contest.[3]
The Herald & Review in August 2017 was one of 10 newsrooms chosen from across the country to receive a grant for watchdog training through Investigative Reporters and Editors Inc., a nonprofit organization dedicated to strengthening investigative journalism.[4]
The Rev. Alfred F. Wuensch founded the Decatur Review as a weekly newspaper in April 1872.[5] C.N. Walls founded the Daily Herald in 1878. In 1931, the morning Herald, by this time owned by the Lindsay family, and the evening Daily Review, owned by the Schaub family, merged their operations. Both newspapers continued to publish separately while maintaining largely separate editorial staffs.[6] The Lindsay-Schaub combine acquired other newspapers, including The Southern Illinoisan, the Champaign-Urbana Courier, the Edwardsville Intelligencer, the Metro-East Journal and the Midland Daily News, as well as Decatur radio station WSOY.
On July 13, 1937, 17 of the paper's editorial employees walked out and went on strike, forcing suspension of the paper, Decatur's only daily newspaper at the time.[7][8]
The newspaper moved into its current building in May 1976.
In 1979, Lee Enterprises purchased most of the Lindsay-Schaub papers, including the Herald and Daily Review.[9] The papers were renamed the Herald & Review and continued to publish morning and evening editions. In June 1982, the evening edition was discontinued.[9]
Chapter 11 bankruptcy, debt discharge and bailout reorganization (2011)
In June 2012, Berkshire Hathaway filed an amended Form 13F (13F-HR/A) for the period ending March 31, 2012.[12] This document disclosed that Berkshire accumulated $2,119,000 or 1,655,125 common shares of Lee Enterprises, or a 3.2 percent stake.[13] The document noted that the confidentiality of this transaction was requested but denied by the SEC on May 25, 2012.[14]
Debt recapitalization (2013-14) following bankruptcy and bailout
In April 2013, Lee Enterprises announced that Berkshire Hathaway refinanced the remaining Pulitzer acquisition debt equating to $94 million.[15] Lee Enterprises incurred no cost for doing this. The collateral involved was the TNI Partner stake including the Arizona Daily Star and azstarnet.com. The result of this was a reduction in interest from a variable rate of 11.3% to a fixed rate of 9% while at the same time extending the debt maturity date of the debt from December 2015 to April 2017. At the time of the announcement Lee Enterprises noted they had $893 million left to pay off. Lee paid off and retired its New Pulitzer notes in June 2015, 6 months before the original maturity date and 22 months before the new maturity date. Lee also refinanced its remaining debt in 2014 in order to extend the maturities from 2015 and 2017 to 2019 and 2022. Lee retired its 1st Lien Term Loan in November 2018, four months before its scheduled March 2019 maturity.
On June 27, 2018, Lee Enterprises and Berkshire Hathaway reached a five-year agreement to allow Lee Enterprises to manage Berkshire Hathaway's newspaper and digital operations.[16]
References
^REVIEW, HERALD &. "Editor & Publisher names Herald & Review one of '10 Newspapers That Do It Right' for 2019". Herald-Review.com.
^Kyle, Otto R. (19 February 1961). "Decatur Newspaper History Covers Nearly 110 Years". The Decatur Daily Review at Newspapers.com. p. 99. Retrieved 21 October 2020.
^"Lindsays: Newspapermen for 100 years". Herald & Review. October 5, 1980. p. 89.
^"Closed Daily Goes on Air". The New York Times. 1937-07-13.
^"Illinois Paper Picketed". The New York Times. 1937-07-11.
^ ab"Lindsay, Schaub families built Decatur papers". Herald & Review. March 25, 1998. p. 101.
^"Newspaper group Lee Enterprises files for bankruptcy", Thomson Reuters, December 12, 2011.
^"Warren Buffett Building Newspaper Empire? - Deal Journal -". blogs.wsj.com. 2012. Retrieved 13 April 2012.
^"Berkshire Hathaway SEC Archives March 31, 2012 13F-HR/A amendment"
^Reuters (June 6, 2012). "Shares of Lee Enterprises Surge After Buffett Buys Stake". New York Times. Retrieved 7 July 2012.
^Kraut, Dan (June 5, 2012). "Buffett's Berkshire Discloses Stake In Lee Enterprises". Bloomberg. Retrieved 7 July 2012.
^"Lee Enterprises refinances $94 million in debt". nwitimes.com. April 30, 2013. Retrieved 11 May 2013.[permanent dead link]
^"Warren Buffett loves his newspapers, he just wants someone else to manage them for him". cnbc.com. June 26, 2018. Retrieved 29 June 2018.
herald, review, daily, newspaper, based, decatur, illinois, owned, enterprises, typedaily, newspaperformatbroadsheetowner, enterpriseseditorchris, coatesgeneral, managerbarry, winterlandfoundedapril, 1872, years, 1872, headquarters601, east, william, streetdec. The Herald amp Review is a daily newspaper based in Decatur Illinois It is owned by Lee Enterprises Herald amp ReviewTypeDaily newspaperFormatBroadsheetOwner s Lee EnterprisesEditorChris CoatesGeneral managerBarry WinterlandFoundedApril 1872 150 years ago 1872 04 Headquarters601 East William StreetDecatur Illinois 62523CountryUnited StatesOCLC number34924722Websiteherald review wbr comMedia of the United StatesList of newspapersThe Herald amp Review was named one of Editor amp Publisher s 10 Newspapers That Do It Right in 2019 for its use of government documents and public records to create substantive journalism 1 In 2018 the Herald amp Review was recognized by Editor amp Publisher for digital growth and other initiatives 2 It also received top honors in the investigative reporting and public service categories in the Illinois Associated Press Media Editors 2017 newspaper contest 3 The Herald amp Review in August 2017 was one of 10 newsrooms chosen from across the country to receive a grant for watchdog training through Investigative Reporters and Editors Inc a nonprofit organization dedicated to strengthening investigative journalism 4 The Herald amp Review also founded the Herald and Review 100 an auto race held annually at Macon Speedway in Macon Illinois Contents 1 History 2 Chapter 11 bankruptcy debt discharge and bailout reorganization 2011 3 Debt recapitalization 2013 14 following bankruptcy and bailout 4 References 5 External linksHistory EditThe Rev Alfred F Wuensch founded the Decatur Review as a weekly newspaper in April 1872 5 C N Walls founded the Daily Herald in 1878 In 1931 the morning Herald by this time owned by the Lindsay family and the evening Daily Review owned by the Schaub family merged their operations Both newspapers continued to publish separately while maintaining largely separate editorial staffs 6 The Lindsay Schaub combine acquired other newspapers including The Southern Illinoisan the Champaign Urbana Courier the Edwardsville Intelligencer the Metro East Journal and the Midland Daily News as well as Decatur radio station WSOY On July 13 1937 17 of the paper s editorial employees walked out and went on strike forcing suspension of the paper Decatur s only daily newspaper at the time 7 8 The newspaper moved into its current building in May 1976 In 1979 Lee Enterprises purchased most of the Lindsay Schaub papers including the Herald and Daily Review 9 The papers were renamed the Herald amp Review and continued to publish morning and evening editions In June 1982 the evening edition was discontinued 9 Chapter 11 bankruptcy debt discharge and bailout reorganization 2011 EditThe ownership company Lee Enterprises filed for Chapter 11 bankruptcy in 2011 10 It emerged from bankruptcy less than two months later In April 2012 Warren Buffett took a stake in Lee Enterprises through Berkshire Hathaway Inc buying 85 million of the company s debt from Goldman Sachs Group 11 In June 2012 Berkshire Hathaway filed an amended Form 13F 13F HR A for the period ending March 31 2012 12 This document disclosed that Berkshire accumulated 2 119 000 or 1 655 125 common shares of Lee Enterprises or a 3 2 percent stake 13 The document noted that the confidentiality of this transaction was requested but denied by the SEC on May 25 2012 14 Debt recapitalization 2013 14 following bankruptcy and bailout EditIn April 2013 Lee Enterprises announced that Berkshire Hathaway refinanced the remaining Pulitzer acquisition debt equating to 94 million 15 Lee Enterprises incurred no cost for doing this The collateral involved was the TNI Partner stake including the Arizona Daily Star and azstarnet com The result of this was a reduction in interest from a variable rate of 11 3 to a fixed rate of 9 while at the same time extending the debt maturity date of the debt from December 2015 to April 2017 At the time of the announcement Lee Enterprises noted they had 893 million left to pay off Lee paid off and retired its New Pulitzer notes in June 2015 6 months before the original maturity date and 22 months before the new maturity date Lee also refinanced its remaining debt in 2014 in order to extend the maturities from 2015 and 2017 to 2019 and 2022 Lee retired its 1st Lien Term Loan in November 2018 four months before its scheduled March 2019 maturity On June 27 2018 Lee Enterprises and Berkshire Hathaway reached a five year agreement to allow Lee Enterprises to manage Berkshire Hathaway s newspaper and digital operations 16 References Edit REVIEW HERALD amp Editor amp Publisher names Herald amp Review one of 10 Newspapers That Do It Right for 2019 Herald Review com REVIEW HERALD amp Herald amp Review receives national journalism recognition Herald Review com REVIEW HERALD amp Herald amp Review gets top honors in Illinois for investigative reporting public service journalism Herald Review com Review ALLISON PETTY Herald amp Herald amp Review chosen for investigative training Herald Review com Kyle Otto R 19 February 1961 Decatur Newspaper History Covers Nearly 110 Years The Decatur Daily Review at Newspapers com p 99 Retrieved 21 October 2020 Lindsays Newspapermen for 100 years Herald amp Review October 5 1980 p 89 Closed Daily Goes on Air The New York Times 1937 07 13 Illinois Paper Picketed The New York Times 1937 07 11 a b Lindsay Schaub families built Decatur papers Herald amp Review March 25 1998 p 101 Newspaper group Lee Enterprises files for bankruptcy Thomson Reuters December 12 2011 Warren Buffett Building Newspaper Empire Deal Journal blogs wsj com 2012 Retrieved 13 April 2012 Berkshire Hathaway SEC Archives March 31 2012 13F HR A amendment Reuters June 6 2012 Shares of Lee Enterprises Surge After Buffett Buys Stake New York Times Retrieved 7 July 2012 Kraut Dan June 5 2012 Buffett s Berkshire Discloses Stake In Lee Enterprises Bloomberg Retrieved 7 July 2012 Lee Enterprises refinances 94 million in debt nwitimes com April 30 2013 Retrieved 11 May 2013 permanent dead link Warren Buffett loves his newspapers he just wants someone else to manage them for him cnbc com June 26 2018 Retrieved 29 June 2018 External links EditOfficial website LCCN sn96071070 Retrieved from https en wikipedia org w index php title Herald 26 Review amp oldid 1065960258, wikipedia, wiki, book, books, library,
