Gannett Co. Inc. said Wednesday it plans to buy Journal Media Group — the parent company of the Milwaukee Journal Sentinel — for about $280 million in cash.The deal, which is expected to close in the first quarter of 2016 if it receives regulatory and shareholder approval, adds Wisconsin’s biggest newspaper to Gannett, which already owns newspapers in Green Bay, the Fox Valley and other important markets in the state….
The agreement is part of an era of further consolidation in the U.S. newspaper industry, as newly pure-play newspaper companies take steps to meet the competitive threat of scaled digital news and advertising businesses, the companies said in a statement.When the deal is completed, Gannett, the parent company of USA Today, The Arizona Republic and The Indianapolis Star, will be in 116 U.S. markets and have a digital audience of more than 100 million unique visitors each month.
Via Gannett to buy Journal Media Group, parent of Journal Sentinel, for $280 million @ JSOnline.