Gannett Co. buying Midwest, South newspapers for $280M - WRCBtv.com | Chattanooga News, Weather & Sports

Gannett Co. buying Midwest, South newspapers for $280M

Posted: Updated:
Gannett headquarters in McLean, VA. Ap photo Gannett headquarters in McLean, VA. Ap photo

By GREG MOORE
Associated Press

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 as well as Knoxville (Tennessee) News Sentinel. 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.

This story has been updated to correct the name of the television spinoff company to Tegna.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly