Gannett (GCI) has entered into an asset purchase agreement with Hearst to divest the Austin American-Statesman from the USA TODAY Network portfolio of over 200 local publications across the country. The company said, “The award-winning Austin American-Statesman is a trusted source for exceptional journalism and a pillar in the Austin community, serving local businesses and brands with innovative strategies and solutions. Founded in 1871, the Statesman has been named Texas Newspaper of the Year three times by the Texas Associated Press Managing Editors and more recently was recognized as a 2023 Public Service Pulitzer Prizes finalist and a 2024 Edward R. Murrow Award winner.” The transaction is anticipated to close in the first quarter of 2025 and proceeds from the transaction are expected to be used for debt reduction.
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