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GateHouse completes $1.1B Gannett takeover

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GateHouse closed on its $1.1 billion purchase of Gannett, the publisher of USA Today and the Springfield News-Leader.

The combined business, which will keep the Gannett name, is the largest newspaper company in the United States with 260 daily papers.

Some $300 million in annual costs are on the chopping block.

Current Gannett CEO Paul Bascobert said front-line reporters are “the last place we want to touch" in terms of job cuts. He pointed to "duplication of management" and financial, printing and advertising division expenses.

Read more from The Associated Press.

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