Gannett will spin off its print business including USA Today into a separate company as it focuses on its TV and digital media properties, the company said Tuesday. The deal, expected to close in 2015, is the latest in a long line of recent spinoffs of print businesses by media companies. Recent transactions include:
— The Tribune Co.
On Monday, the Tribune Co. completed the spinoff of its newspaper business and changed its name to Tribune Media Co., a move that was in the works for about a year. Tribune Media Co. will operate 42 local TV stations and the WGN America cable channel. The newspaper spinoff, called Tribune Publishing Co., will include newspapers such as the Los Angeles Times and Chicago Tribune.
— Journal Communications Inc. and E.W. Scripps Co.
Last week, the two companies agreed to combine broadcast operations while spinning off newspaper holdings into a separate publicly traded entity. Journal Communication's newspaper component, Journal Media Group, will operate in 14 markets. Meanwhile, Journal Communications' broadcast assets will fold into Scripps, with headquarters remaining in Cincinnati. The company will own and operate TV and radio stations serving 27 markets. The deal is expected to close in 2015.
— Time Warner
Earlier this year, the media giant completed a spinoff of publisher Time Inc., which owns magazines including People, Time and Sports Illustrated, into a separate, publicly traded company, as it focuses on its other media properties such as HBO and Warner Bros. studios. Time Inc.'s shares are up 4 percent since they started trading in June. Time Warner's stock is up 24 percent.
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