On Thursday, shareholders of GateHouse and Gannett Media house is said to be now combining with the companies. All these come after the management has promised to find $300 million in all annual savings.
In this deal, it was seen that GateHouse, which is the parent of New Media Investment Group, will now be purchasing the Gannett for all the combinations of cash and stock. It, too, helps in creating the conglomerate, which will own nearly 250 daily newspapers.
The newspaper that will come under it is said to be USA Today, Indianapolis Star, the Milwaukee Journal Sentinel, community papers, and hundreds of weekly.
Michael Reed, who is the chairman and Chief executive of New Media, said that all this combination will now create the leading US print as well as a digital news organization. With all these things, it will be the deep local roots and national scale.
He added by saying that, by remaining together, they will be more string and also will go for better growth for all shareholders and employees. All this will happen at the same time when you are sustaining journalism in nearly hundreds of markets across the country.