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Gannett Announces Asset Purchase Agreement With Hearst

1. GCI divests the Austin American-Statesman to Hearst, affecting local media presence. 2. This decision may streamline GCI operations and focus resources more effectively.

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FAQ

Why Neutral?

The divestiture could help reduce costs, but local market share is reduced, potentially balancing the impact. Similar past divestitures have shown mixed stock reactions due to local market sensitivities.

How important is it?

This divestiture may signal strategic shifts, impacting investors' perceptions. Sales and operational focus may positively alter GCI's long-term outlook.

Why Short Term?

The immediate impact of divestiture will clarify GCI’s focus. However, future growth trends will depend on operational execution post-sale.

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GCIHEARST
NEW YORK, NY--(BUSINESS WIRE)--Gannett Co., Inc. (NYSE: GCI) has entered into an asset purchase agreement with Hearst, a leading global diversified information services and media company, to divest the Austin American-Statesman from the USA TODAY Network portfolio of over 200 local publications across the country. The award-winning Austin American-Statesman is a trusted source for exceptional journalism and a pillar in the Austin community, serving local businesses and brands with innovative st.

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