America’s two largest newspaper chains are joining forces. Will it save either?
America’s two largest newspaper publishers will merge in an effort to combat declining circulation and plunging advertising revenue, but will still face pressure to cut costs at hundreds of already cash-strapped publications around the country. The $1.4 billion purchase of McLean (VA)-based Gannett by GateHouse Media, based in Pittsford (NY), will create a conglomerate that will own more than 250 daily newspapers and hundreds of weekly and community papers.