Post by Logan on Apr 9, 2016 2:26:35 GMT -6
Gannett, the publishing company that owns The Tennessean, finalized a $280 million deal Friday to buy Journal Media Group, which adds The Commercial Appeal in Memphis and the Knoxville News Sentinel to the company’s growing national network.
The purchase by Gannett, which also owns USA Today and media businesses in 91 other markets, was approved by the U.S. Justice Department on Thursday. It follows through on the company leaders’ hopes to expand its national footprint after it was spun off from its former parent in 2015.
The acquisition makes the USA Today Network in Tennessee one of the largest statewide news groups in the country, with more than 340 journalists working at several locations. Laura Hollingsworth, president of The Tennessean/TN Media and the new Tennessee network, said the reach “will enable us to provide even deeper enterprise and investigative reporting throughout the state.”
“The company is focused on expanding its footprint where it makes good strategic sense – and certainly in Tennessee, we see that,” Hollingsworth said. “By expanding our footprint, we enhance the depth and breadth of our news-gathering capabilities and gain competitive advantages through added reach and increased operational scale across the entire country.”
Read more: www.tennessean.com/story/money/2016/04/08/merger-creates-tennessees-largest-news-organization/82763636/
The purchase by Gannett, which also owns USA Today and media businesses in 91 other markets, was approved by the U.S. Justice Department on Thursday. It follows through on the company leaders’ hopes to expand its national footprint after it was spun off from its former parent in 2015.
The acquisition makes the USA Today Network in Tennessee one of the largest statewide news groups in the country, with more than 340 journalists working at several locations. Laura Hollingsworth, president of The Tennessean/TN Media and the new Tennessee network, said the reach “will enable us to provide even deeper enterprise and investigative reporting throughout the state.”
“The company is focused on expanding its footprint where it makes good strategic sense – and certainly in Tennessee, we see that,” Hollingsworth said. “By expanding our footprint, we enhance the depth and breadth of our news-gathering capabilities and gain competitive advantages through added reach and increased operational scale across the entire country.”
Read more: www.tennessean.com/story/money/2016/04/08/merger-creates-tennessees-largest-news-organization/82763636/