Gannett to buy Journal Media Group for $280M

Gannett Co. Inc. announced yesterday it inked a deal to buy Journal Media Group for about $280 million.

Gannett, which owns USA Today, the Springfield News-Leader and media businesses in 92 local markets, would pick up the 178-year-old Milwaukee Journal Sentinel, The Commercial Appeal of Memphis, 15 other daily newspapers, 18 weeklies and their affiliated websites in 14 U.S. markets.

Approved by both companies' boards of directors, the deal is expected to close in the first quarter next year.

Read more from USA Today.