About Gatehouse Media, LLC
Newspaper giant Gannett was formed in 2019 when New Media Investment Group, owner of newspaper chain GateHouse Media, acquired the parent company of USA TODAY and more than 100 other dailies for roughly $1.1 billion creating the largest newspaper company in the country. The transaction formed a local-news behemoth that controls a total of more than 260 daily newspapers and hundreds more weeklies in 47 states. The combined company publishes about 30% of all newspapers sold in the US every day. Holdings include the Arizona Republic, Detroit Free Press, and Rochester Democrat and Chronicle as well as the Austin American-Statesman and Providence Journal.
Gannett earns revenue from advertising (majority of revenue), subscriptions and single-issue sales (circulation), and commercial printing. In addition to print titles, the company publishes online content for a large digital audience of monthly unique visitors. Some 25% of revenue comes from digital, the rest from print.
Prior to its combination with New Media Investment Group, Gannett's portfolio included 110 daily US print products, including USA TODAY, and 150 publications in the UK. And on the other side of the equation, New Media Investment Group brought nearly 680 community print publications some 580 websites to the table.
Gannett is based in McLean, Virginia and operates across the US, in nearly all 50 states.
Gannett is working to cut costs as the print newspaper industry faces intense challenges. The company hopes the 2019 combination between New Media Investment Group and Gannett will provide scale to help it survive amid rapid declines in print circulation. It also joined forces to better compete in a digital advertising market dominated by tech giants Google and Facebook.
Mergers and Acquisitions
In the transaction that created the current Gannett, shareholders of New Media Investment Group acquired 50.5% of the combined company, while the former Gannett assumed control of the remaining 49.5%. The new private equity-backed business changed its name from New Media Investment Group to Gannett and moved its headquarters from New Media's New York City office to Gannett's HQ in McLean, Virginia. New Media Investment Group' (through its GateHouse subsidiary) and rival Gannett were already the two largest newspaper owners in the country by number of papers and print circulation, and the deal created a more massive newspaper giant.
Prior to the transaction both Gannett and GateHouse cut newsroom employees. The new iteration of the company hopes the acquisition, worth roughly $1.1 billion, will result in cost savings of up to $300 million. Critics of the deal have warned that local papers will likely fold, jobs will be slashed, and reporting will suffer.
Gannett traces its roots to 1906 when Frank Gannett bought a half-share in New York's Elmira Gazette. Frank made further acquisitions of local newspapers across the Northeastern US. USA Today was launched in 1982. Gannett took its current form in 2015 when it was spun off from its parent company -- now called Tegna -- which retained the broadcast media business.
Meanwhile, Liberty Group Publishing was formed in 1997 to buy about 160 publications from newspaper giant Hollinger International (later Sun-Times Media Group). It went public in 2006, changing its name to GateHouse. The company came under new ownership in 2013 when New Media Investment Group was formed.
In 2019, Gannett and New Media Investment Group joined forces to create the current iteration of Gannett.
175 Sullys Trl FL 3
Pittsford, NY 14534-4560
Phone: 1 (585) 598-0030
Employer Type: Publicly Owned
Ceo: Kirk A Davis
President Of Sales: Blair Heavey
Senior Vice President Of Human Resources: Samantha Howland
Employees (This Location): 249
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