The media movement to separate growing digital and TV business from the struggling newspaper and magazine industry gained another follower on Tuesday.
Gannett announced that it would spin off its publishing division to focus on the more lucrative broadcast and digital portions of its operation, which now includes full ownership of auto website Cars.com. The two companies will both be publicly traded.
The company publishes a variety of well-known titles including USA Today, the largest U.S. newspaper by circulation, 81 local U.S. daily newspapers and more than 200 weekly periodicals including magazines and trade publications. The broadcast and digital arm features 42 TV stations as well as websites like CareerBuilder, in which it has a majority stake. Read more...
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from MashableJason Abbruzzese
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