New Media Investment Group and Gannett finalized their merger Tuesday, putting top executives in position to move ahead with plans they believe will transform the new company’s local and national news brands, including USA TODAY, into a reinvented digital media powerhouse.
The merger creates the largest U.S. media company by print circulation and one that will vie for the nation’s biggest online news and information audience.
The new company’s CEOs – Mike Reed, who will lead the overall public entity under the name Gannett Co., and Paul Bascobert, who will lead an operating company called Gannett Media Corp. – told USA TODAY in a joint interview that they have a compelling opportunity to reinvent the business and expand digital revenue. Both said the company will continue to focus on its journalistic mission.
“Our mission is to connect, protect and celebrate our local communities,” Bascobert said. “Great journalism really is the core of that mission. The question really becomes, what’s the sustainable and exciting business model that powers that mission?”
The more than 250 daily publications that are part of the new Gannett – such as the Detroit Free Press, The Columbus Dispatch, The Arizona Republic and the Austin American-Statesman – and several hundred weekly publications have cultivated online brands in local markets. Now, Gannett needs to find ways to turn those connections into more revenue.
Outlining A Strategy
Bascobert outlined a strategy based on lead generation in local markets – similar, he said, to the approach taken by home services site Angie’s List and Yelp, a reviews and directory service.
