GateHouse Media Owner to Acquire Gannett for $1.4 Billion
An agreement between two large newspaper chains on Monday laid the groundwork for a new publishing behemoth.
New Media Investment Group, which controls GateHouse Media, announced that it had agreed to buy Gannett, the owner of USA Today and more than 100 other local publications nationwide. Once combined, GateHouse and Gannett will publish more than 260 daily newspapers in the United States, along with more than 300 weekly publications. The new company will go under the name Gannett.
Gannett owns The Detroit Free Press, The Arizona Republic, The Milwaukee Journal Sentinel and other prominent newspapers in small, midsize and large cities. GateHouse Media, which owns 154 daily newspapers and operates in 39 states, has been on a buying spree in recent years, striking deals to acquire The Austin American-Statesman in Austin, Tex., The Palm Beach Post in Palm Beach, Fla., and The Akron Beacon Journal in Akron, Ohio...