Gannett Completes Purchase of Journal Media Group with Blessing from DOJ
Last Friday Gannett Company, Inc. (NYSE: GCI) announced it had completed the purchase of Journal Media Group (NYSE: JMG) upon receiving approval from the U.S. Department of Justice (DOJ). Gannett acquired the Journal Media Group’s 15 daily newspapers and related digital assets. According to an October 2015 announcement about the pending purchase, Gannett would also acquire 18 weekly newspapers and add circulation totals of 675,000 from dailies and 950,000 from Sunday papers as part of the deal. In addition, Gannett will gain more than 10 million unique digital domestic visitors each month.
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