TCPalm, Stuart News sold

 

Gannett’s headquarters in McLean, VA (Source: Florida Today)

From Florida Today: Gannett, the publishing company that owns USA Today, Florida Today and media businesses in more than 90 local markets, said late Wednesday it has agreed to buy Journal Media Group for about $280 million, following through on its strategy to acquire additional local news outlets after it was spun off from its former parent in June.

Florida properties acquired are the Treasure Coast Newspapers based in Stuart and the Naples Daily News on the Gulf Coast.

The deal is expected to close in the first quarter of 2016. It was approved by both companies’ boards of directors and is subject to approval by Journal Media Group shareholders.

After the deal, Gannett will have a media outlet in 106 local markets in the U.S. It will result in “a combined digital audience of more than 100 million unique visitors a month,” it said. Its print circulation will rise by about 675,000 on weekdays and 950,000 on Sundays, it said.

For the complete story: http://www.floridatoday.com/story/news/local/2015/10/08/gannett-buy-journal-media-group/73562222/

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