On behalf of everyone at New Media, we welcome Gannett and their talented team, and look forward to working together to achieve a seamless transition and to build value for all of our shareholders, employees, clients and local communities.” “Our combined company will sustain local journalism in hundreds of markets across the country and enhance the services we provide to small and midsized businesses nationally. print and digital news organization with deep local roots and national scale,” said Michael Reed, Chairman and Chief Executive Officer of New Media. “We are pleased to announce the completion of the Merger to create the leading U.S. Michael Reed will remain Chairman and Chief Executive Officer of the combined company and Paul Bascobert will serve as Chief Executive Officer of the operating subsidiary, Gannett Media Corp. Beginning on November 20, 2019, New Media will trade on the New York Stock Exchange under this name and its ticker symbol will be changed to “GCI”.
The combined company will operate under the name “Gannett Co., Inc.”.
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View the full release here: Īs previously announced, Gannett stockholders are entitled to receive $6.25 in cash and 0.5427 shares of New Media common stock per share of Gannett common stock in the Merger. (“Gannett”) (NYSE: GCI) jointly announced today the successful completion of the previously announced acquisition of Gannett by New Media for a combination of cash and stock (the “Merger”). (“ New Media”) (NYSE: NEWM) and Gannett Co., Inc.
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