GateHouse Media, which now owns both the Journal Star and the Times-Observer, has consolidated the two newspapers’ offices:
TimesNewspapers’ office at 1616 W. Pioneer Parkway, Peoria, will be closed Friday.
The TimesNewspapers’ office, which houses the Peoria Times-Observer, will move to a new location at 1 News Plaza, Peoria, 61643.
Could this be the beginning of the end for the venerable Times-Observer? Given GateHouse Media’s financial woes, including a $10.3 million loss in the first quarter of 2009, I think it’s just a matter of time before the Times-Observer is discontinued. Mike Reed, GateHouse Media’s Chief Executive Officer, said recently, “Our cost controls were very good in the first quarter. However, we will be even more aggressive over the next couple of quarters, as we weather this economic downturn. We remain highly focused on liquidity and improving our cash position.”
If I were a betting man, I’d bet that GateHouse will discontinue the Times-Observer by the end of the year, but retain DeWayne Bartels as a reporter/columnist for the Journal Star. I’d be happy if my prediction didn’t come true, however, and the Times-Observer continued as a separate publication. But I can’t help but feel like the handwriting is on the wall.