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Globe Gazette axes editor as hedge fund takeover looms

MASON CITY – The Globe Gazette has axed its editor, Jaci Smith, as the dwindling newspaper teeters on the brink.

Lee Enterprises, owner of the Globe Gazette (Mason City’s “official newspaper” for years), has bragged about cutting its workforce before.  Ominously, Lee has filed bankruptcy in an attempt to stay in business.  Late last year, Alden Capital Group invaded Lee’s realm and is attempting a hostile takeover as Lee begs shareholders to vote for their hand-picked board member to try and stave off the aggressive New Yorkers.  The matter is now in court.

So, Monday’s news that the Globe Gazette is axing their editor comes as no shock to those who follow the antics of Lee and the diminishing influence of this small town newspaper.  Not that many years ago, the Globe spent $2 million on a used printing press, only later to farm out the printing of their tiny print product to Des Moines; the decent into oblivion was clear to the savvy amongst us.

Smith had only been at the Globe Gazette since 2019, when she was named editor of the North Iowa Media Group.

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