New Media Investment Group said Monday that it reached a deal to acquire Gannett, which owns USA TODAY and more than 100 other daily publications and digital marketing services such as ReachLocal:
Published 5:17 PM EDT Aug 5, 2019
Together, the two companies would operate more than 260 daily news operations – far more than any other U.S. news publisher – and boast potentially the largest online audience of any American news provider.New Media Investment Group CEO Michael Reed will remain CEO of the umbrella company, which will be named Gannett after the deal closes.
“We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism," Reed said in a statement. The stakes are high. The fate of for-profit local journalism hangs in the balance as the news industry spars with digital giants Google, Facebook and others for revenue and the attention of Americans.
Gannett had nearly double as much revenue in 2018 – $2.92 billion, compared with GateHouse’s $1.53 billion – and had about double the market capitalization, as of Friday.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Newspaper chain GateHouse buying Gannett, USA Today ownerTwo of the country's largest newspaper companies have agreed to combine in the latest media deal driven by the industry's struggles with a decline of printed editions.
Read more »
Newspaper chain GateHouse buying Gannett, USA Today ownerNEW YORK (AP) — Two of the country's largest newspaper companies have agreed to combine in the latest media deal driven by the industry's struggles with a decline of printed...
Read more »
New Media to buy USA Today-owner Gannett in $1.4 billion dealNew Media Investment Group said on Monday it will buy USA Today-owner Gannett Co...
Read more »
USA Today owner Gannett merges with GateHouse Media to form massive newspaper companyTwo of American's largest newspaper chains announced on Monday that they will merge, uniting hundreds of local newsrooms under a single company.
Read more »
Newspaper chain GateHouse buying Gannett, USA Today ownerTwo of the country's largest newspaper companies have agreed to combine. It's the latest media deal driven by the news industry's struggles with a decline of printed editions
Read more »
Newspaper chain GateHouse is buying Gannett, USA Today's ownerTwo of the country's largest newspaper companies have agreed to combine in the latest media deal driven by the industry's struggles with a decline of printed editions.
Read more »