USA Today to be Sold?
CBJ — The publisher of USA Today has received a $1.8 billion bid from a media group with a history of taking over struggling newspapers and cutting jobs to save money.
MNG Enterprises, better known as Digital First Media, said in a letter to Gannett that its leadership team has failed to show that it can run the company effectively.
The newspaper industry has shrunk and consolidated as readers abandon print papers and go online. Estimated U.S. daily newspaper circulation, print and digital combined, fell 11% in 2017. Employment in newsrooms has fallen 15% in the U.S. over the past three years.
Gannett and its board will review the proposal.