USA TODAY Co. Acquires The Detroit News, Expanding Media Footprint
In a significant move to strengthen its media presence, USA TODAY Co. has announced its acquisition of The Detroit News, reflecting its commitment to local journalism in the Detroit metropolitan area. This transaction follows the conclusion of a joint operating agreement between The Detroit News and the Detroit Free Press, which had been in place for 36 years.
Acquisition Details
The deal, which was disclosed on a Monday, includes a binding letter of intent between USA TODAY Co. and MediaNews Group, the current owner of The News. Although the company has not revealed the financial terms, the acquisition is expected to be finalized by the end of the month.
- Buyer: USA TODAY Co.
- Seller: MediaNews Group
- Expected Completion: By the end of the month
- Deal Announcement Date: Monday
Commitment to Local Journalism
CEO Mike Reed expressed enthusiasm about the acquisition. He emphasized that integrating The Detroit News into the USA TODAY network will enhance the delivery of high-quality news to their audiences and advertisers. Reed underscored the importance of maintaining the distinct identities of both The News and the Detroit Free Press.
Guy Gilmore, COO of MediaNews Group, also commented on the transition, indicating that both organizations are committed to preserving local journalism that serves the greater Detroit area.
Historical Context
This acquisition represents a notable shift in the ownership structure of Detroit’s daily newspapers, which have undergone various changes over the decades. The previous joint operating agreement was established in 1986, allowing for shared business operations while retaining separate editorial control.
- Joint Operating Agreement: Established in 1986 and concluded on December 28.
- First Reported Plans: The News intended to launch a separate Sunday edition on January 18 but delayed those plans.
Legacy of The Detroit News
Founded in 1873 by James E. Scripps, The Detroit News has a rich history and has received numerous accolades for its journalism, including three Pulitzer Prizes. Historically, it was a pioneer in many media innovations, such as aerial photography and broadcast television in Michigan. In the digital age, The News has adapted, launching its website in 1995 and now attracting nearly 3 million monthly users.
As the landscape of local journalism continues to evolve, the acquisition by USA TODAY Co. marks a return to historical roots while ushering in new opportunities for growth and collaboration in the media sector. The partnership aims to ensure the continued availability of trusted news resources for residents of Detroit.
