Hearst to Acquire the Austin American-StatesmanBack to News

February 19, 2025 – Austin, TX – Gannett Co., Inc. (NYSE: GCI) has entered into an asset purchase agreement with Hearst, a leading global diversified information services and media company, to divest the Austin American-Statesman from the USA TODAY Network portfolio of over 200 local publications across the country. 

Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, New Mexico, is representing Gannett in the transaction. The transaction is anticipated to close in the first quarter of 2025. 

The award-winning Austin American-Statesman is a trusted source for exceptional journalism and a pillar in the Austin community, serving local businesses and brands with innovative strategies and solutions. Founded in 1871, the Statesman has been named Texas Newspaper of the Year three times by the Texas Associated Press Managing Editors and more recently was recognized as a 2023 Public Service Pulitzer Prizes finalist and a 2024 Edward R. Murrow Award winner. 

“Hearst has a stellar reputation in the publishing industry and their values are uniquely aligned with ours,” said Michael Reed, Gannett chairman and chief executive officer. “The sale of the Austin American-Statesman from our portfolio is a strategic decision that will complement the Hearst brand while positioning Gannett and the USA TODAY Network of more than 200 local publications for future growth. We are confident Hearst will be a great home for our Statesman colleagues.” 

Hearst Newspapers, the operating group responsible for Hearst’s newspapers, local digital marketing services businesses and directories, publishes 26 dailies and 52 weeklies across the U.S. 

“This acquisition complements Hearst’s set of newspapers and reinforces our commitment to delivering high-quality journalism,” said Jeff Johnson, president of Hearst Newspapers. “It aligns with our strategy to invest in thriving communities with strong potential. We look forward to welcoming the Austin American-Statesman team to Hearst, joining 2,300 committed Hearst Newspapers professionals across the country.”