Gannett (GCI) said Wednesday it agreed to sell the Austin American-Statesman from the USA TODAY Network portfolio to
Hearst, a diversified information services and media company.
Terms of the agreement weren't disclosed.
The company expects to close the transaction in Q1 2025 and use the proceeds to pay down debt.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.