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Possible Gannett and Tribune Merger

Posted on Friday, April 29, 2016 at 10:01 PM

In the news: Gannett has offered to buy ailing media enterprise Tribune Publishing. What would this mean for the newspaper industry?

In what Poynter.org is calling a "hostile takeover bid," Gannett offered over $800 million to buy the troubled Tribune Publishing. The offer comes after a bleak 2015 showing from Tribune, whose newspapers saw a sharp decline in ad revenue.

The offer comes just two months after Michael Ferro took over as nonexecutive chairman of Tribune Publishing. Already talks seem to be turning contentious, with Gannett anxious to move forward with a deal and Tribune wanting more time to assess the terms.

Read more about the deal here and what it could mean for the newspaper industry here.

Also Notable

Scholastic: A Magazine Success Story

Modern-day magazine success stories can pop up in the most unexpected of places. Scholastic, whose titles are intended for children and teens, is experiencing significant growth. According to Fortune.com, print circulation in classrooms is up 15 percent over the past three years. The publisher is launching a new third-grade magazine, Storyworks Jr., this year. School districts typically foot the bill for group/classroom subscriptions, a business model that continues to pay off for Scholastic. According to Fortune.com, "Scholastic's education business grew 8.2% in fiscal 2015 and 4.3% the year earlier. Education revenue for the first nine months of the current fiscal year totaled $185.6 million, up 9% from a year ago." Read more here.

Reconstructing Print

Last week, Mike Drexler of MediaVillage.com wrote up his assessment of the print magazine business. About the future of print, he writes: "All magazines in print form will not perish. But most of them will shrink substantially in circulation and audience in their current form -- and believing that the digital tablet will save the industry is folly." Read his complete commentary here.

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