Gannett to Acquire Connecticut Newspapers from Tribune
McLEAN, VA – Gannett Co., Inc. (NYSE: GCI) today agreed to acquire certain assets of Southern Connecticut Newspapers, Inc. (SCNI), publisher of The Advocate in Stamford and the Greenwich Time, from Tribune Company (NYSE: TRB) for $73 million.
“Gannett has deep roots in the New York/Connecticut area and these daily newspapers are a great fit with our operations in that region,” said Craig A. Dubow, chairman, president and chief executive officer of Gannett. “We are pleased to welcome these publications to Gannett.”
The sale of SCNI, a subsidiary of Tribune located in Greenwich, is expected to close after a regulatory review is completed.
Gannett Co., Inc. is a leading international news and information company that publishes 90 daily newspapers in the USA, including USA TODAY, the nation’s largest-selling daily newspaper. The company also owns nearly 1,000 non-daily publications in the USA and USA WEEKEND, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom’s second largest regional newspaper company. Newsquest publishes nearly 300 titles, including 18 daily newspapers, and a network of prize-winning Web sites. Gannett also operates 23 television stations in the United States and is an Internet leader with sites sponsored by its TV stations and newspapers including USATODAY.com, one of the most popular news sites on the Web.
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