The Gannett Company, a USA based media group, announced on 5 August 2014 to spin off its print operations including USA Today from its digital and broadcasting business. Gannett also said that it would add another digital operation to its portfolio by buying 73 percent of auto sales website cars.com.
The purpose of such move is to free faster growing media operations from less beneficial newspaper and magazine businesses. Executives and Investors hope that such deals will boost stock prices in the future.
The broadcasting and digital company of Gannett is yet to be named. However, Gannett confirmed that it’s broadcasting and digital company would be the biggest media group of television stations possessing Gannett’s digital operations including CareerBuilder, an online job-search website. Gannett CEO Gracia Martore will head the broadcasting and digital operations.
Meanwhile, the Publishing business will run 81 newspapers including the British news company Newsquest.
This separation of Gannett Company follows the path of other media company that had spun off their print operations in recent years including Rupert Murdoch’s empire, Time Warner Inc. and E.W. Scripps.
About The Gannett Company
Gannett Company is a USA based media group with its headquarters in Virginia, near McLean in Greater Washington DC. Its assets include publishing business, broadcasting business and digital media business.
The company engages around 110 million people every month through its outstanding content and powerful network.
It operates 82 publications including USA Today which ranks number one in the industry. Gannett also provides marketing solutions to the businesses that want to engage their customers across the world. Its marketing business is known as Gannett’s digital marketing services organization.
Who: Gannett Company
When: 5 August 2014