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US: Media giant Gannett splits its business

By  |  August 5, 2014

Media conglomerate Gannett announced major business overhauls Tuesday, including a splitting of its broadcast and publishing operations as well as an acquisition of Cars.com.

According to reports, Gannett will divide its media business in efforts to accelerate its broadcast business without being tied down by the declining newspaper sector.

Meanwhile, the company said it will take full ownership of Cars.com in a $1.8 billion deal.

Gannett owns 46 television stations, USA Today and 81 additional newspapers and websites, according to reports.

Similar moves to divide broadcasting and print media assets were made by Time Warner, News Corp and Tribune.

Full content: The Ledger

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