Gannett bids for Tribune

All newspaper industry eyes are watching to see what will happen next with Gannett and Tribune.  On vacation or taking a digital hiatus and miss the news of Gannett’s bid to buy Tribune earlier this week?  Don’t worry, we’ve got you covered.  Here’s a roundup of articles on the potential acquisition:

• USA Today provided a good overview of the news of the deal in which Gannett has offered $815 million to buy Tribune just weeks after acquiring Journal Media Group for $280 million.

http://www.usatoday.com/story/money/2016/04/25/gannett-offers-815-million-buy-tribune-publishing/83488422/

• The Tribune chairman Michael Ferro Jr. reportedly missed the email from Gannett CEO Robert Dickey offering to buy the company, as reported by the Wall Street Journal:

http://www.wsj.com/articles/gannetts-offer-tests-tribunes-new-leadership-1461775430

• The WSJ details that the offer has not been without drama:

http://www.wsj.com/articles/tribune-ceo-blasts-gannett-as-playing-games-with-takeover-bid-1461675264

• Poynter provides interesting commentary and speculation that the takeover is likely to go through, though not without the blessing of the DOJ:

http://www.poynter.org/2016/why-gannett-is-likely-to-win-its-takeover-bid-for-tribune-publishing/407965/

• Predictions from Poynter on what the deal would mean for Tribune, should it go through:

http://www.poynter.org/2016/heres-what-gannett-would-do-with-tribunes-major-newspapers/408923/

• Media Life Magazine taps newspaper merger and acquisitions authority Sara April to provide expert analysis of the deal and what it means in the context of industry trends, pointing to a recent surge in newspaper deals.

http://www.medialifemagazine.com/behind-recent-surge-newspaper-deals/#.VyJyafQf5wA.twitter

• For more analysis from Media Life, particularly through the lens of what it means for Tribune, see here:

http://www.medialifemagazine.com/perhaps-the-endgame-for-tribune/

The acquisition would certainly have effects for media buyers and advertisers – even though Gannett claims editorial staff is valued and journalists would not be affected, it is very likely many administrative functions (ad sales, billing, etc.) will be centralized or “streamlined” to maximize cost savings ($50 million in “synergies”).  Now that we’re all caught up, stay tuned.  The uncertainty is undoubtedly shaking things up at papers held by both media companies.  More to come.

Post by Darcy Mauke