Gannett to Acquire 21 Daily Newspapers From Thomson
Posted on June 9, 2000Gannett Co., Inc. announced that it will acquire 21 daily newspapers, along with numerous weeklies and niche publications, from Thomson Newspapers, Inc. in a series of transactions for an aggregate purchase price of $1.125 billion. Gannett will acquire Thomson's strategic marketing groups in Wisconsin (8 dailies), Central Ohio (8 dailies), and Southwest Ohio (2 dailies), and single daily newspaper groups in Lafayette, LA; Salisbury, MD; and St. George, UT.
In announcing the offer, Douglas H. McCorkindale, President and Chief Executive Officer of Gannett said, ``We are extremely pleased that these Thomson properties will become part of Gannett. Thomson's publications provide a significant opportunity to expand and strengthen our operations in several locations throughout the country.'' Closing is expected to occur in the third quarter of 2000, subject to obtaining applicable governmental approvals.
Gannett Co., Inc. is an international news and information company that publishes 74 daily newspapers in the USA, including USA Today. The company also owns a variety of non-daily publications and USA Weekend, a weekly newspaper magazine. Gannett also operates 22 television stations.