New Media shareholders will own 50.5% of the combined company, while Gannett shareholders will own 49.5%. The companies estimated they can save $275 million to $300 million in annual costs within 24 months. After the acquisition is complete, which is expected to occur around the end of the year, Bascobert will become CEO of the combined Gannett-GateHouse entity under New Media Investment Group CEO Michael Reed will remain CEO of the umbrella company.įormer Bloomberg LP Chief Operating Officer and Bloomberg Businessweek President Paul Bascobert was appointed CEO of Gannett and a member of the Gannett board. The combined company will be based at Gannett’s headquarters west of Washington, D.C., and will be called Gannett. Pittsford, New York-based GateHouse, the operating subsidiary of New Media Investment Group, will combine with McLean, Virginia-based Gannett, the larger of the two companies, in a cash-and-stock deal worth about $1.38 billion and financed in part with new private-equity debt. New Media Investment Group announced Monday that it reached a deal to acquire Gannett, which owns more than 100 other daily publications and digital marketing services such as ReachLocal.Īmong the 100 daily publications are those within USA TODAY NETWORK-Wisconsin - the Appleton Post-Crescent, Fond du Lac Reporter, Green Bay Press-Gazette, Manitowoc Herald Times Reporter, Marshfield News-Herald, Oshkosh Northwestern, Sheboygan Press, Stevens Point Journal, Wausau Daily Herald, Wisconsin Rapids New Tribune - as well as the Milwaukee Journal Sentinel and PackersNews, a website that covers the Green Bay Packers. This article first appeared on Wisconsin Newspaper Association and is republished here under a Creative Commons license.GateHouse Media owner and USA TODAY NETWORK owner Gannett have agreed to merge in a deal aimed at cutting overlapping costs and enabling the combined company to pursue a digital transformation. RELATED: Jessica VanEgeren joins USA TODAY NETWORK-Wisconsin RELATED: Paul Pehler named president of River Valley Media Group The (Wisconsin Rapids) Daily Tribune, Marshfield News-Herald and Stevens Point Journal all continue to serve their communities as daily newspapers, as will the Daily Herald. Between 20, Gannett sold its buildings in Wisconsin Rapids, Marshfield and Stevens Point, while moving the newspaper offices to new locations. With the sale, Gannett no longer owns any of the buildings that for decades had housed its central Wisconsin newspapers. The newspaper will lease space in the building, which it reports was sold to Bauer's Mega Storage, a Wausau-area company. The Daily Herald offices had been located in the building since 1958. has been sold by the newspaper's parent company, Gannett Co. The Wausau Daily Herald building at 800 Scott St. Inc., parent company of the Wausau Daily Herald, has sold the newspaper's longtime home at 800 Scott St., the newspaper reported Tuesday. Gannett sells longtime home of Wausau Daily Heraldīy Julia Hunter, Wisconsin Newspaper AssociationĪugGannett sells longtime home of Wausau Daily Heraldīy Julia Hunter, Wisconsin Newspaper Association August 28, 2021 Following several mergers and name changes, the first Record-Herald was printed Dec. Its roots can be traced back even further, to 1875, when a weekly known as the Torch of Liberty began publication. The Wausau newspaper was established in 1907 as the Wausau Daily Record-Herald. RELATED: Jessica VanEgeren joins USA TODAY NETWORK-Wisconsin.RELATED: Paul Pehler named president of River Valley Media Group.The newspaper will lease space in the building, which it reports was sold to Bauer’s Mega Storage, a Wausau-area company. has been sold by the newspaper’s parent company, Gannett Co.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |