USA TODAY Co. is set to acquire The Detroit News, marking a significant shift in the ownership of two major newspapers in the city. The deal comes after the expiration of the joint operating agreement between The Detroit News and its rival publication, the Detroit Free Press, which has been in place since 1989.
The acquisition will bring an end to a unique arrangement that saw MediaNews Group maintaining editorial authority over The Detroit News while sharing business operations with USA TODAY Co. Under this structure, the two newspapers have operated separately but shared resources such as printing and circulation.
The deal is expected to close by the end of January, pending customary closing conditions. USA TODAY Co., which already owns the Detroit Free Press, has stated that both publications will remain editorially independent following the acquisition. This ensures that readers can continue to expect high-quality journalism from each publication without interference in their editorial content.
MediaNews Group, the previous owner of The Detroit News, has been reducing its newspaper holdings in recent years as print advertising revenue continues to decline. The company's decision to sell The Detroit News is seen as a strategic move to focus on other assets and adapt to changing industry trends.
Under USA TODAY Co.'s ownership, both The Detroit News and the Detroit Free Press are expected to maintain their existing operations, including print and digital platforms. This means that readers can continue to access these publications in various formats, including online and in print.
The acquisition is also seen as a step towards strengthening USA TODAY Co.'s presence in local journalism, particularly in the Detroit metropolitan area. With its ownership of both The Detroit News and the Detroit Free Press, USA TODAY Co. will be able to pool resources and expertise to better serve readers across the region.
Founded in 1873, The Detroit News has a rich history that includes three Pulitzer Prizes for outstanding journalism. Its rival publication, the Detroit Free Press, has won 10 Pulitzer Prizes since its founding in 1841. Both newspapers have operated continuously for more than a century, earning them a reputation as pillars of local journalism.
Despite industry-wide declines in print advertising, both The Detroit News and the Detroit Free Press continue to attract significant audiences online. According to a recent report from NiemanLab, these publications rank among the top 15 most-visited local news websites in the United States.
The acquisition is also expected to address financing and staffing issues for MediaNews Group, which has been restructured as part of the deal. USA TODAY Co. has revised its senior secured credit facility, setting interest rates at a SOFR-based rate with a 4.5 percent margin and a 150-basis-point floor.
Editorial employees at The Detroit News will be offered positions with USA TODAY Co., pending the completion of the acquisition process. This ensures that the high-quality journalism and editorial expertise brought to these publications will continue uninterrupted.
In conclusion, the acquisition of The Detroit News by USA TODAY Co. represents a significant development in the newspaper industry. With its continued commitment to local journalism, this deal is expected to strengthen readership and revenue for both publications, ultimately serving the greater Detroit area for years to come.
The acquisition will bring an end to a unique arrangement that saw MediaNews Group maintaining editorial authority over The Detroit News while sharing business operations with USA TODAY Co. Under this structure, the two newspapers have operated separately but shared resources such as printing and circulation.
The deal is expected to close by the end of January, pending customary closing conditions. USA TODAY Co., which already owns the Detroit Free Press, has stated that both publications will remain editorially independent following the acquisition. This ensures that readers can continue to expect high-quality journalism from each publication without interference in their editorial content.
MediaNews Group, the previous owner of The Detroit News, has been reducing its newspaper holdings in recent years as print advertising revenue continues to decline. The company's decision to sell The Detroit News is seen as a strategic move to focus on other assets and adapt to changing industry trends.
Under USA TODAY Co.'s ownership, both The Detroit News and the Detroit Free Press are expected to maintain their existing operations, including print and digital platforms. This means that readers can continue to access these publications in various formats, including online and in print.
The acquisition is also seen as a step towards strengthening USA TODAY Co.'s presence in local journalism, particularly in the Detroit metropolitan area. With its ownership of both The Detroit News and the Detroit Free Press, USA TODAY Co. will be able to pool resources and expertise to better serve readers across the region.
Founded in 1873, The Detroit News has a rich history that includes three Pulitzer Prizes for outstanding journalism. Its rival publication, the Detroit Free Press, has won 10 Pulitzer Prizes since its founding in 1841. Both newspapers have operated continuously for more than a century, earning them a reputation as pillars of local journalism.
Despite industry-wide declines in print advertising, both The Detroit News and the Detroit Free Press continue to attract significant audiences online. According to a recent report from NiemanLab, these publications rank among the top 15 most-visited local news websites in the United States.
The acquisition is also expected to address financing and staffing issues for MediaNews Group, which has been restructured as part of the deal. USA TODAY Co. has revised its senior secured credit facility, setting interest rates at a SOFR-based rate with a 4.5 percent margin and a 150-basis-point floor.
Editorial employees at The Detroit News will be offered positions with USA TODAY Co., pending the completion of the acquisition process. This ensures that the high-quality journalism and editorial expertise brought to these publications will continue uninterrupted.
In conclusion, the acquisition of The Detroit News by USA TODAY Co. represents a significant development in the newspaper industry. With its continued commitment to local journalism, this deal is expected to strengthen readership and revenue for both publications, ultimately serving the greater Detroit area for years to come.
... it's like losing a piece of history. But on a more positive note, I think this is an amazing opportunity for USA TODAY Co. to bring both publications under one roof 
. It'll be awesome to see them pool their resources and expertise to give readers even more high-quality journalism 
. The fact that editorial employees at The Detroit News will get offered positions with USA TODAY Co. is just the icing on the cake 
... it's a great way to ensure continuity of excellent journalism in the area 
. Here's to the future of local journalism! 
... it's like they're trying to control the media or something, but at least USA TODAY Co. says they'll keep 'em independent 
. i mean, The Detroit News and Free Press have been around for ages, 3 & 10 Pulitzer Prizes respectively 
. can't say im thrilled about this deal tho... print ads are dying anyway 
. hope the editorial staff gets taken care of 
like where r we going with this?? one minute its the free press and the other minute its the news... i mean i guess it's not a bad thing they're keeping editorial independence tho, thats like the most important thing for journalism imo 
! Means two major news outlets in one city will be under one roof but still editorially independent - can't ask for more, right? 
Detroit's been through some stuff, but with these publications on the job, we can expect the truth to come out, no matter what. 
plus usa today co seems pretty cool about keeping the editorial independence of both papers so fingers crossed for that 
Should help keep quality of journalism up 
! USA TODAY Co. is acquiring The Detroit News, which means a new chapter for these two local newspapers 
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. I mean, USA TODAY Co.'s got a good thing goin' with the Free Press, but it's sad to see another piece of local journalism fall under their umbrella. Still, I guess it's better than those online news sites that can't even get the facts right 
. The fact that both papers are gonna stay editorially independent is a good sign, though... at least we'll still get some decent reporting outta Detroit 
just think about it, another big change in media ownership... 
and with both papers under one roof, pooling resources might just help them stay afloat in this digital age 