Thursday, October 8, 2015

Milwaukee Journal Sentinel To be Sold?

Jsonline, and other Milwaukee and other media may be sold to Gannet.
From the Reno Gazette Journal:
Gannett, the publishing company that owns the Reno Gazette-Journal, USA Today and media businesses in 92 local markets, said late Wednesday that it has agreed to buy Journal Media Group for about $280 million, following through on its strategy of acquiring additional local news outlets after it was spun off from its former parent in June.
Shareholders of Milwaukee-based Journal Media Group will receive $12 a share in cash. That is a 45% premium from the Wednesday closing price of $8.30.
“This acquisition is a perfect fit for Gannett,” said John Maher, president and publisher of RGJ Media. “These markets complement our existing footprint while increasing our audience substantially.”
Journal Media Group owns the 178-year-old Milwaukee Journal Sentinel, The Commercial Appeal of Memphis, 13 other daily newspapers, 18 weeklies and their affiliated websites in 14 local markets in the U.S.
The deal is expected to close in the first quarter of 2016. It was approved by both companies’ boards of directors and is subject to approval by Journal Media Group shareholders.
From a person standpoint, I began my working career as a paperboy for the Milwaukee Journal way back in 1972.
And if Gannet turns the jsonline into a Gannett type site, the readers of jsonline are going to hate the new layout.
And it will be interesting for the liberal Gannett media, if they will keep the conservative talk shows of Charlie Sykes and Jeff Wagner?

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