The Austin American-Statesman is altering fingers 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, in response to the Statesman. Web sites akin to 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 group 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 offered 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. Apart from 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 Day by day digital e-newsletter, and San Antonio Journal.
“Hearst has a stellar repute 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 resolution that may complement their model whereas positioning Gannett and the USA At present [network] of greater than 200 native publications for future progress. We’re assured Hearst shall be a terrific house for our Statesman colleagues.”
Hearst publishes 26 each day and 52 weekly newspapers within the U.S., and greater than 200 magazines all over the world.
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, in response to 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, in response to the Specific-Information. The newspaper’s editorial workers dropped from 200 staff in 2013 to 41 in 2023, the NewsGuild-Communications Employees of America says.
