Gannett Co., Inc. announced on February 19, 2025, that it has entered into an asset purchase agreement with Hearst to divest the Austin American-Statesman. This strategic decision will remove the publication from the USA TODAY Network's portfolio of over 200 local publications.
The Austin American-Statesman, founded in 1871, is recognized for its journalism, including being a 2023 Public Service Pulitzer Prizes finalist. Gannett stated that the sale complements the Hearst brand while positioning Gannett for future growth.
The transaction is anticipated to close in the first quarter of 2025. Proceeds from the sale are expected to be utilized for debt reduction, aligning with Gannett's ongoing priority to strengthen its balance sheet.
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