In a deal that will create the largest newspaper group in the country, it was announced that GateHouse Media has struck a deal with Gannett for a $1.4 billion merger.
“As a result of the merger, the newly formed company, which will keep the Gannett name, will be home to 263 daily media organizations across 47 states and Guam, including USA Today,” MediaPost reports. “That number results in the new company owning one out of every six newspapers in the country.”
MediaPost adds: “Michael Reed will remain Chairman of the Board of Directors and CEO under the deal, while Alison Engel is expected to become Chief Financial Officer. Paul Bascobert, who is the newly [appointed] Chief Executive Officer of Gannett, will become the Chief Executive Officer of the combined company’s operating subsidiary.”
The report notes that the publisher’s expected reach numbers over 145 million unique visitors every month based on Comscore measurements.
The deal is expected to close by the end of 2019.