mvcg66b3r 97 Posted August 5, 2014 Share Posted August 5, 2014 Gannett Co. on Tuesday said it will spin off its publishing business, creating two separate publicly traded companies, and confirmed it will buy full ownership of Cars.com for $1.8 billion. http://www.marketwatch.com/story/gannett-to-spin-off-publishing-business-buy-rest-of-carscom-2014-08-05?siteid=rss&rss=1 Link to comment Share on other sites More sharing options...
sanewsguy 509 Posted August 5, 2014 Share Posted August 5, 2014 About time. Maybe the synergy between USA Today and the stations will finally end, because it's proving to be annoying... Here's the press release: http://www.gannett.com/article/20140805/PRESSRELEASES2014/140805001/GANNETT-CREATE-TWO-INDUSTRY-LEADING-COMPANIES-SCALE-THROUGH-SPIN-OFF-PUBLISHING-BUSINESS-GANNETT-SHAREHOLDERS Apparently the newspaper company will keep the Gannett name. This is insane! Gannett spent so much time trying to tie in their stations with USA Today. It's like someone tattooing the name of their spouse on their face, and then getting a divorce. Perfect analogy. Both companies will probably keep using the name, like Belo continued to, and as Tribune does now. And, the need for Sander is finally eliminated and once the spinoff is complete Gannett can finally take full control of those stations. Link to comment Share on other sites More sharing options...
Rusty Muck 4157 Posted August 5, 2014 Share Posted August 5, 2014 Which company will be pronounced GAHNN-ett, and which company will be pronounced GHENN-ett? Link to comment Share on other sites More sharing options...
Breaking News 802 Posted August 5, 2014 Share Posted August 5, 2014 http://dealbook.nytimes.com/2014/08/05/gannett-to-spin-off-its-print-business/?_php=true&_type=blogs&_php=true&_type=blogs&_php=true&_type=blogs&_r=2& more articles Link to comment Share on other sites More sharing options...
TVIntheDesert 183 Posted August 5, 2014 Share Posted August 5, 2014 About time. Maybe the synergy between USA Today and the stations will finally end, because it's proving to be annoying... Perfect analogy. Both companies will probably keep using the name, like Belo continued to, and as Tribune does now. And, the need for Sander is finally eliminated and once the spinoff is complete Gannett can finally take full control of those stations. Oops...they shouldn't have razed 1101 N. Central, because KPNX may need new space. Unless they've struck a deal to continue to be news partners with the Arizona Republic. I wonder if Gannett wants KASW back now??? Link to comment Share on other sites More sharing options...
KevCor 344 Posted August 5, 2014 Share Posted August 5, 2014 Maybe they'll take on the Belo name... I kid, I kid.... (or am I?) Link to comment Share on other sites More sharing options...
TheOneManHerd 553 Posted August 5, 2014 Share Posted August 5, 2014 Maybe they'll take on the Belo name... I kid, I kid.... (or am I?) Or the Multimedia name. Or the Combined Communications name. Link to comment Share on other sites More sharing options...
Samantha 2876 Posted August 5, 2014 Share Posted August 5, 2014 I think Gannett didn't want to do this but then realized that not only do newspaper assets hold back the growth of a company financially, they can box it out from otherwise desirable new TV markets — and they had to do it to keep up with the Joneses. Link to comment Share on other sites More sharing options...
Mrtraveler01 737 Posted August 5, 2014 Share Posted August 5, 2014 Oops...they shouldn't have razed 1101 N. Central, because KPNX may need new space. Unless they've struck a deal to continue to be news partners with the Arizona Republic. I wonder if Gannett wants KASW back now??? Looks like KPNX is staying at the Arizona Republic builiding if this article is any indication: http://www.bizjournals.com/phoenix/news/2014/08/05/how-gannetts-split-of-broadcast-publishing.html Link to comment Share on other sites More sharing options...
Mrtraveler01 737 Posted August 5, 2014 Share Posted August 5, 2014 Gannett's divisions currently share content widely and use a common publishing software application. Its TV stations and local newspapers receive a large chunk of their national news content from USA TODAY. The newspapers also widely use TV stations' videos to accompany print stories. And Martore said in a conference call with analysts Tuesday that Gannett will continue its "cross-platform efforts." As Gannett restructures, the broadcasting and publishing companies will have to strike new content and shared services agreements. Some corporate functions and Gannett's marketing services offered to local businesses to help them find customers could be included in new agreements. The company's digital products and websites will remain, but details will be worked out in the coming months, Martore said. http://www.usatoday.com/story/money/business/2014/08/05/gannett-carscom-deal/13611915/ Looks like the status quo will continue for the short term but new parternships can form down the road. Link to comment Share on other sites More sharing options...
detroiter313 178 Posted August 5, 2014 Share Posted August 5, 2014 Which company will be pronounced GAHNN-ett, and which company will be pronounced GHENN-ett? Hmmm. that is one tricky question. Link to comment Share on other sites More sharing options...
KevCor 344 Posted August 5, 2014 Share Posted August 5, 2014 Or the Multimedia name. Or the Combined Communications name. Maybe they'll take on the Belo name... I kid, I kid.... (or am I?) [insert Station Name Here], a Combined Belo-Multimedia Communications, Inc company. Yup, sounds logical. Link to comment Share on other sites More sharing options...
Samantha 2876 Posted August 5, 2014 Share Posted August 5, 2014 While few companies are buying newspapers, Martore said "there have been attractive newspaper properties" for sale that Gannett might have looked at had it not been constrained by a federal rule that prohibits companies from owning a daily newspaper and a full-power broadcast TV station in the same market. "We bump into it more often than you'd imagine," she said. I think the TV unit has also bumped into this situation. Expect Sander to strike a deal to sell the licenses of his stations to Gannett when this is settled. This leaves only Cox and Hearst as the large TV-newspaper groups, and Hearst has done utterly nothing in all of this craziness for better or worse. This is a massive transformational moment in the industry. Link to comment Share on other sites More sharing options...
sanewsguy 509 Posted August 5, 2014 Share Posted August 5, 2014 Would Gracia Martore stay with the broadcast side or print? If any Belo, Scripps and Tribune are any indication, I'm guessing she'll stay with the broadcast company. Link to comment Share on other sites More sharing options...
Samantha 2876 Posted August 5, 2014 Share Posted August 5, 2014 Would Gracia Martore stay with the broadcast side or print? If any Belo, Scripps and Tribune are any indication, I'm guessing she'll stay with the broadcast company. "Martore will be the CEO of the new broadcasting and digital company, which will be renamed, and both new companies will continue to be based in McLean, Va." Link to comment Share on other sites More sharing options...
24994J 5269 Posted August 5, 2014 Share Posted August 5, 2014 [insert Station Name Here], a Combined Belo-Multimedia Communications, Inc company. Yup, sounds logical. For some reason, that just makes me think of this... Link to comment Share on other sites More sharing options...
easttxtv 7 Posted August 6, 2014 Share Posted August 6, 2014 "Martore will be the CEO of the new broadcasting and digital company' date=' [b']which will be renamed[/b], and both new companies will continue to be based in McLean, Va." So after all the ex-Belo's and ex-London's just got through having to start using the end-of-credits logo and music and "all this comes into your home" (or "the preceding was just baked fresh from our home" or *whatever* it is this week), now they've gotta get used to something else. Link to comment Share on other sites More sharing options...
Rusty Muck 4157 Posted August 6, 2014 Share Posted August 6, 2014 Or the Multimedia name. Or the Combined Communications name. Heck, why not Pacific and Southern? Or Globetrotter Communications? Link to comment Share on other sites More sharing options...
sanewsguy 509 Posted August 6, 2014 Share Posted August 6, 2014 So after all the ex-Belo's and ex-London's just got through having to start using the end-of-credits logo and music and "all this comes into your home" (or "the preceding was just baked fresh from our home" or *whatever* it is this week), now they've gotta get used to something else. I hope they ditch the "It's All Within Reach" slogan. And well, hopefully this will mean an end to the free advertising for USA Today. Link to comment Share on other sites More sharing options...
Thundershock MN 169 Posted August 6, 2014 Share Posted August 6, 2014 I'm a bit surprised by this. Only because it seems like Gannett really wanted to keep the newspapers in the fold. And, they didn't make a half-assed effort like Tribune did in integrating the newspaper and broadcasting sides of the company. Gannett is in the final stages of rolling out the "presto" CMS to all their properties, broadcast and newspapers. I feel like this was a recent decision based on the marketplace. While few companies are buying newspapers, Martore said "there have been attractive newspaper properties" for sale that Gannett might have looked at had it not been constrained by a federal rule that prohibits companies from owning a daily newspaper and a full-power broadcast TV station in the same market. "We bump into it more often than you'd imagine," she said. I think the TV unit has also bumped into this situation. Expect Sander to strike a deal to sell the licenses of his stations to Gannett when this is settled. This leaves only Cox and Hearst as the large TV-newspaper groups, and Hearst has done utterly nothing in all of this craziness for better or worse. This is a massive transformational moment in the industry. I really think Gracia Martore really hit on something I fully expect to happen. I think we are likely to see a few big "print media" behemoths come out of all these spin-offs. She pretty much came right out and said it. These new "print-only" media companies are ripe to merge or be acquired by one another in order to try and achieve some efficiencies and slow the bleeding. They no longer have broadcast (or, other) divisions to help prop them up. I have a feeling that the "new" News Corp and the "new" Gannett will end up owning a massive amount of the nations newspapers/publications within a few years. The sad thing is that I feel that the NBCO rules the FCC currently has in place is driving some of this. I really feel like some of these companies (like Gannett) wouldn't feel forced into jettisoning the newspapers if NBCO was repealed. The whole point of NBCO is/was to avoid consolidation of media voices. But, sadly I think because it's hung around long past it's time we will end up with a great majority of the nations "print" media owned by a couple companies...and unlike TV or radio consolidation there really isn't anyone to stop it. Link to comment Share on other sites More sharing options...
Breaking News 802 Posted August 6, 2014 Share Posted August 6, 2014 Heck, why not Pacific and Southern? Or Globetrotter Communications? I thought the same thing w/ Pacific and Southern, because WXIA ends their newscast with that name. I say Gannett keep Gannett Broadcasting and for the digital arm/newspapers could be G.Interactive Media & Publishings Link to comment Share on other sites More sharing options...
KevCor 344 Posted August 6, 2014 Share Posted August 6, 2014 I know I have contributed no substance to this post... But what if they trolled us all and named it Deathstar Broadcasting? Link to comment Share on other sites More sharing options...
channel2 869 Posted August 6, 2014 Share Posted August 6, 2014 Why would Gannett dig up long-retired names for either company? Tribune didn't name its publishing spinoff "Times Mirror". (Knowing Myron, I think he's being sarcastic, though) Link to comment Share on other sites More sharing options...
KevCor 344 Posted August 6, 2014 Share Posted August 6, 2014 Why would Gannett dig up long-retired names for either company? Tribune didn't name its publishing spinoff "Times Mirror". (Knowing Myron, I think he's being sarcastic, though) If I had a choice, I'd have kept the Gannett name with the profitable broadcast/digital properties. They could have named the publishing side "USA Today Publishing" or something of the like.It just seems to sound like a more reasonable proposition then renaming all of the TV properties. Link to comment Share on other sites More sharing options...
SterlingNorth 33 Posted August 16, 2014 Share Posted August 16, 2014 Posted by someone else to the graphics thread, but I wonder if someone caught wind of Icahn's intentions and decided to blaze ahead. http://mobile.bloomberg.com/news/2014-08-14/icahn-takes-new-activist-position-in-gannett-backs-split-plan.html Link to comment Share on other sites More sharing options...
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