Those forces will still be in place once the companies merge. On their own, each company has grappled with the sharp decline of print revenue caused by the disruptive forces of online news, social media and smartphones. news publisher – and boast potentially the largest online audience of any American news provider. Together, the two companies would operate more than 260 daily news operations – far more than any other U.S. “We believe this transaction will create value for our shareholders, greater opportunities for our employees, and a stronger future for journalism," Reed said in a statement. New Media shareholders will own 50.5% of the combined company, while Gannett shareholders will own 49.5%. The companies estimated they can save $275 million to $300 million in annual costs within 24 months. After the acquisition is complete, which is expected to occur around the end of the year, Bascobert will become CEO of the combined Gannett-GateHouse entity under New Media Investment Group CEO Michael Reed will remain CEO of the umbrella company.įormer Bloomberg LP Chief Operating Officer and Bloomberg Businessweek President Paul Bascobert was appointed CEO of Gannett and a member of the Gannett board. The combined company will be based at Gannett’s headquarters west of Washington, D.C., and will be called Gannett. Pittsford, New York-based GateHouse, the operating subsidiary of New Media Investment Group, will combine with McLean, Virginia-based Gannett, the larger of the two companies, in a cash-and-stock deal worth about $1.38 billion and financed in part with new private-equity debt. New Media Investment Group announced Monday that it reached a deal to acquire Gannett, which owns more than 100 other daily publications and digital marketing services such as ReachLocal.Īmong the 100 daily publications are those within USA TODAY NETWORK-Wisconsin - the Appleton Post-Crescent, Fond du Lac Reporter, Green Bay Press-Gazette, Manitowoc Herald Times Reporter, Marshfield News-Herald, Oshkosh Northwestern, Sheboygan Press, Stevens Point Journal, Wausau Daily Herald, Wisconsin Rapids New Tribune - as well as the Milwaukee Journal Sentinel and PackersNews, a website that covers the Green Bay Packers. 2, 1907.GateHouse Media owner and USA TODAY NETWORK owner Gannett have agreed to merge in a deal aimed at cutting overlapping costs and enabling the combined company to pursue a digital transformation. A year later, the Wausau Daily Record took over the Daily Herald, becoming the Wausau Daily Record-Herald, distributing its first edition Dec. In 1906, the Wausau Herald purchased Wausau Daily News, and it became the Daily Herald. The Torch of Liberty started in 1875 as a weekly paper, and the publication became the Wausau Daily Record in 1895. The Daily Herald's roots go back even further. Like the other central Wisconsin papers, the Daily Herald will continue serving the community as it has since it was established in 1907 as the Wausau Daily Record-Herald. The Marshfield News-Herald building was demolished in 2011, and the Stevens Point Journal office on Third Street was sold in 2017 before the Journal moved to its current office in the Chase Bank building. The Daily Tribune building in Wisconsin Rapids was sold in December 2012 to Incourage Community Foundation. The Wausau Daily Herald building was the last of Gannett-owned offices in central Wisconsin. 16. Brad Bauer, the owner of the Wausau-area company, did not respond to messages about his plans for the site. "The sale of the building will have no impact on newsroom coverage or staffing," said Jim Fitzhenry, executive editor and vice president of news for USA TODAY NETWORK-Central Wisconsin, which includes the Wausau Daily Herald.įitzhenry said the Daily Herald will lease space in the building for a period of time, as well.Īccording to county documents, the sale to Bauer's Mega Storage was filed Aug. sold the building at 800 Scott St., which has housed the newspaper offices since 1958. WAUSAU – The Wausau Daily Herald property has been sold, but the newspaper will continue reporting news in and about the Wausau area and daily print circulation.
0 kommentar(er)
