Gannett to Spin Off Its Publishing Business
Gannett is splitting its broadcast and publishing business in two, joining other major media players in allowing fast growing TV and digital operations to operate more freely and not be weighed down by the declining newspaper business.
Gannett also announced that it would take full ownership of Cars.com for $1.8 billion. The publishing company will house USA Today as well as 81 local US daily publications and Newsquest, a regional community news provider in the UK.
Gannett to Spin Off Its Publishing Business Gannett To Create Two Industry-Leading Companies With Scale Through Spin-Off Of Publishing Business To Gannett Shareholders (Read Gannett press release) Gannett to spin off newspaper division (Politico) Gannett shares leap pre-market on spin-off news (USAToday) Gannett Separates Broadcasting/Digital and Publishing Units (B&C) Following Industry Trend, Gannett Will Split Newspaper, Broadcasting Divisions (NPR) Gannett to Split Publishing and Broadcast Businesses into Two Companies (The Wrap)