Gannett completes split of print, broadcasting divisions
MCLEAN, Va. (AP) — Gannett has completed the split of its print and broadcasting divisions into separate companies.
The broadcasting and digital arm, which will be called Tegna Inc., will run the company’s television stations and websites such as CareerBuilder. It will also include Cars.com. Tegna will start trading on the New York Stock Exchange on Monday under the “TGNA” ticker symbol.
Gannett announced its plan in August, one of many media companies to split up as people increasingly head online for their news. Gannett’s move follows similar maneuvers by major operators such as Time Warner Inc. and News Corp.
Gannett’s publishing arm will keep the Gannett name and include USA Today, local U.S. daily publications which includes The News Journal Media Group in Delaware and Newsquest, a regional community news provider in the U.K.
Both companies will remain headquartered in McLean, Virginia.