Gannett acquirer New Media Investment Group reports revenue decline, digital boost [USA TODAY]
NEW MEDIA INVESTMENT GROUP (NEWM)
Last new media investment group earnings: 10/26 06:50 am
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Source: USA TODAY
New Media Investment Group earnings: Gannett buyer says revenue fell Gannett acquirer New Media Investment Group reports revenue decline, digital boost Nathan Bomey USA TODAY New Media Investment Group, the company that is set to acquire USA TODAY owner Gannett The company, whose GateHouse Media operating division has more than 150 daily publications, said its total revenue fell 1% to $376.6 million New Media reported a net loss of $18.5 million, about three times the loss from a year earlier. That figure included $12.1 million in costs associated with the company's deal to acquire Gannett, which, in addition to its flagship property USA TODAY, owns 109 local properties operated as the USA TODAY Network. The Gannett tie-up is subject to a vote of each company's shareholders on Nov. 14. If shareholders approve, the new company will be renamed Gannett and will be helmed from Gannett's current headquarters in McLean, Virginia. The deal would create the largest American media company by n
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