Gannett Completes Spinoff
Gannett completed its spinoff, separating its broadcasting and publishing arms into two new companies, it said in a news release Monday. The broadcasting company is called Tegna (see 1504210034). The publishing company retains the Gannett name, the release said. The…
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“new Gannett” is “the largest and most diversified publishing company with a portfolio of 92 domestic media markets, Newsquest, a leading UK regional news publisher,” and USA Today, the release said. “The new Gannett will be virtually debt-free with a highly focused operational strategy and significant flexibility to make strategic acquisitions.”