Gannett Completes Spin-off, Creating Two Publicly Traded Companies

(RTTNews) - Gannett Co., Inc. (GCI) said that it has completed spin-off transaction, creating two publicly traded companies.

The new Gannett, the largest and most diversified publishing company with a portfolio of 92 domestic media markets, Newsquest, a leading UK regional news publisher and flagship national brand USA TODAY, is led by chief executive officer Robert Dickey, former president of the Gannett U.S. Community Publishing Division.

Gannett also announced the creation of its nationwide USA TODAY Media Network, the largest local-to-national media network in the U.S. The network will be powered by an integrated and news organization with deep roots in 92 communities plus USA TODAY, one of the most recognized national media brands. This follows the recent acquisition of 11 markets through Digital First Media, and further underscores the unmatched local-to-national capabilities of the company.

Dickey will oversee an executive leadership team including Alison Engel, Chief Financial Officer; Jamshid Khazenie, Chief Technology Officer.

The new Gannett will be virtually debt-free with a highly focused operational strategy and significant flexibility to make strategic acquisitions. The company will also continue to invest in innovative storytelling, advertising solutions and diversified business opportunities to deliver attractive returns for shareholders.