Gannett announces update on proposed acquisition of Journal Media Group

MCLEAN, Va.--(BUSINESS WIRE)--

Gannett Co., Inc. GCI announced today that its previously announced acquisition of Journal Media Group will not close during the first quarter as expected because the regulatory clearance process is not yet complete. Gannett is continuing to work through the review process with the U.S. Department of Justice, and looks forward to closing the transaction on a timely basis.

About Gannett

Gannett Co., Inc. GCI is a next-generation media company committed to strengthening communities across our network. Through trusted, compelling content and unmatched local-to-national reach, Gannett touches the lives of more than 100 million people monthly. With more than 100 markets internationally, it is known for Pulitzer Prize-winning newsrooms, powerhouse brands such as USA TODAY and specialized media properties. To connect with us, visit www.gannett.com.

About Journal Media Group

Journal Media Group JMG, headquartered in Milwaukee, is a media company with print and digital publishing operations serving 14 U.S. markets in nine states, including the Milwaukee Journal Sentinel, the Naples Daily News, The Commercial Appeal in Memphis, and Ventura County Star in California. Formed in 2015 through a merger of the newspaper operations of The E.W. Scripps Company and Journal Communications, Inc., the company serves local communities with daily newspapers, affiliated community publications, and a growing portfolio of digital products that inform, engage and empower readers and advertisers. Learn more at www.journalmediagroup.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160330006363/en/