Two of the largest U.S. newspaper companies have agreed to combine for roughly $1.4 billion, creating a new industry giant that hopes to manage the crisis of print’s decline through sheer size.
GateHouse Media, a fast-growing chain backed by an investment firm, is buying USA Today owner Gannett, promising to speed up a digital transformation as readers shift online. The companies say they are committed to “journalistic excellence” — while also cutting $300 million in costs every year.
The resulting company would be the largest U.S. newspaper company by far, with a print circulation of 8.7 million, 7 million more than the new No. 2, McClatchy, according to media expert Ken Doctor.
Full Story @ Associated Press
Note: Media Bias Fact Check has reviewed dozens of Gatehouse newspapers with all being rated High for factual reporting and the majority Least Biased. The papers that have been rated Left-Center or Right-Center were due to editorial bias that reflected the demographics of the media market.
Follow Blog via Email