Tuesday, July 23, 2019

Merger talks ongoing between Gannett, GateHouse


Gannett and GateHouse are well into negotiations to merge, USA Today, the New York Post and others reported. 
USA Today is Gannett’s flagship publication. Gannett also owns over 100 local news outlets in the U.S.
Gannett and GateHouse are the two biggest newspaper companies by circulation.  
The financial details of a possible deal have not been made public, USA Today reported. Both companies declined to comment on the possible deal, USA Today said.
One sticky wicket may be GateHouse/New Media’s taking over of Gannett’s pension liabilities, according to a source, the Post reported.
New York state-based GateHouse Media is part of New Media Investment Group, which is managed by Fortress Investment Group, owned by Japanese company SoftBank. GateHouse owns 156 dailies.
Gannett recently rejected a takeover move by MNG Enterprises. Besides the possible GateHouse deal, Gannett may be looking at other arrangements, including with Tribune Publishing Co., USA Today said.
Gannett has not announced a new CEO since the recent retirement of CEO Robert Dickey.

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