The Austin American-Statesman is altering arms once more. Hearst, which owns the San Antonio Specific-Information and Houston Chronicle, has agreed to purchase the Statesman from media firm Gannett. The sale worth wasn’t disclosed.
Along with the Statesman, the deal would come with the Bastrop Advertiser, Lake Travis View, Pflugerville Pflag, and Spherical Rock Chief, based on the Statesman. Web sites resembling Austin360 and Hookem.com are additionally a part of the sale.
“This acquisition enhances Hearst’s set of newspapers and reinforces our dedication to delivering high-quality journalism,” Jeff Johnson, president of Hearst’s newspaper division, says in a information launch. “It aligns with our technique to spend money on thriving communities with robust potential. We look ahead to welcoming the Austin American-Statesman workforce to Hearst, becoming a member of 2,300 dedicated Hearst [newspaper] professionals throughout the nation.”
The deal, which is predicted to be accomplished by March 31, comes seven years after longtime proprietor Cox Enterprises bought the Statesman to Gatehouse Media for $47.5 million. Gannett acquired the Statesman when it merged with Gatehouse in a 2019 deal valued at $1.4 billion.
The acquisition of the Statesman and different Austin-area publications boosts Hearst’s holdings in Texas. Other than the Specific-Information and Chronicle, Hearst owns the Beaumont Enterprise, Laredo Morning Occasions, Midland Reporter-Telegram, and Plainview Herald. The corporate additionally owns Austin Month-to-month and Austin House magazines, the Austin Each day digital publication, and San Antonio Journal.
“Hearst has a stellar fame within the publishing trade and their values are uniquely aligned with ours,” says Gannett Chairman and CEO Mike Reed. “The sale of the Austin American-Statesman is a strategic determination that can complement their model whereas positioning Gannett and the USA At this time [network] of greater than 200 native publications for future progress. We’re assured Hearst might be an awesome house for our Statesman colleagues.”
Hearst publishes 26 day by day and 52 weekly newspapers within the U.S., and greater than 200 magazines world wide.
As with many newspapers, the Statesman’s circulation has dwindled lately. The mixed print and digital circulation fell from 79,545 in 2022 to 70,733 in 2023, based on the Specific-Information.
It’s unclear how Hearst’s possession would have an effect on the Statesman workforce. Newsroom staff on the Statesman unionized in 2021, based on the Specific-Information. The newspaper’s editorial workers dropped from 200 staff in 2013 to 41 in 2023, the NewsGuild-Communications Staff of America says.
