YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
After speculation, GateHouse Media's owner agreed to purchase Gannett in a deal valued at roughly $1.4 billion.
New Media Investment Group, GateHouse's parent company, signed on to buy Gannett's USA Today, the Springfield News-Leader and some 100 other daily publications.
The companies together would operate over 260 daily news operations.
Company officials estimate annual savings of up to $300 million through "increased scale of the new organization, sharing of best practices, leveraging existing infrastructure, facility rationalization and other judicious cost reductions."
New Media shareholders would own 50.5% of the combined company, while Gannett shareholders would own the rest.
Read more from USA Today.
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