The plundering Gannettoids | Arkansas Blog

The plundering Gannettoids

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NEWSEUM: Built on Gannett stock.
  • NEWSEUM: Built on Gannett stock.

Jim Hopkins, a former Arkansas Gazette business editor and former USA Today business reporter, now runs a blog that keeps up with the (plummeting) fortunes of the Gannett Corporation. This link will mostly be of interest to those of us who have had Gannett connections over the years. (It once owned the Arkansas Gazette. It still owns KTHV and the Baxter Bulletin.) But it's also a lesson for all in how private foundations, set up with immense benefits under the U.S. tax code, sometimes line the pockets of the people who run them.

Here, the beneficiaries include former Gannett CEO Al Neuharth, who engineered the deal that turned the Gannett Foundation into the Freedom Forum, the Newseum-building empire that also has turned out to be a cash register for himself, his daughter and favored former Gannett executives, including Charles Overby, a former Mississippi newspaper editor. Overby, as a Gannett corporate executive, oversaw the news end of Gannett's five-year experiment at the Gazette.

Obscene is a word that comes to mind. Neuharth has no shame. Some of the others, like Judy Woodruff, you also have to wonder.

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