Friday, April 01, 2016
Gannett acquisition approved
Shareholders of Milwaukee-based Journal Media Group on Tuesday approved the company's $280 million sale to Gannett, the publishing company that owns USA TODAY and media businesses in 92 local markets.
The transaction, announced in October, is expected to close this month.
Journal Media Group owns the 178-year-old Milwaukee Journal, the Memphis Commercial Appeal, 13 other daily newspapers, 18 weeklies and their affiliated websites in 14 U.S. markets in nine states.
This will give Gannett a media outlet in 106 U.S. markets.
The Milwaukee Journal began in 1882. Scripps acquired the outgrowth, Journal Communications, in 2015 and spun out the publishing operations of both Scripps and Journal into Journal Media Group.