New Media to buy Gannett for $1.4 billion, creating biggest U.S. newspaper publisher

) in a $1.4 billion deal, creating the biggest newspaper owner in the United States as publishers struggle with readers shifting to online sources for news.

Now by merging, the companies expect to cut costs by $275-300 million annually and said they would together have 263 daily media organizations across 47 states, as well as USA Today. New Media and Gannett are the largest U.S. newspaper owners by circulation, according to Statista. After the merger closes, expected by the second half of 2019, New Media will hold about 50.5% stake in the combined company, to be led by Reed.

And how will this monopoly report the news. For or Against?

CarpeNoctom What’s their agenda?

'New Media to buy Gannett for $1.4 billion, creating biggest U.S. newspaper destroyer' Fixed it for ya!

I'm guessing that they've overpaid. Either that or New Media knows something about how to profit from newspapers that the rest of the world hasn't yet figured out.

Oh good finally some media consolidation!

😊

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