Gannett Co. buying Midwest, South newspapers for $280M
MILWAUKEE (AP) – Company officials say Gannett Co. is buying newspaper company Journal Media Group for $280 million.
Journal Media publications dot the Midwest and South and include the Milwaukee Journal-Sentinel and Memphis (Tennessee) Commercial-Appeal. Gannett and Journal Media announced the deal in a news release Wednesday.
Industry experts say the publications are a natural fit for Gannett’s strategy of maximizing short-term profits through centralization and managing the decline of publications in less competitive markets.
Gannett this summer became a company that runs newspapers exclusively, having moved all of its television companies into a separate company, Tegna Inc.
Gannett’s flagship publication is USA Today.
