(WXYZ) — USA TODAY Co., the current owner of the Detroit Free Press, has plans to buy The Detroit News.
In a press release Monday, USA TODAY Co., formerly known as Gannett, announced it has agreed to a binding letter of intent with MediaNews Group to acquire The Detroit News.
“The acquisition of The Detroit News will be a strategic investment that strengthens the USA TODAY Network’s audience and its portfolio of more than 200 local publications nationwide and reinforces our commitment to local journalism in the Detroit metropolitan area,” said Michael Reed, Chairman and Chief Executive Officer of USA TODAY Co., in a statement. “Welcoming The Detroit News fully to our network will enable the continued delivery of trusted, high-quality news and content to our audiences and advertisers in the region.”
According USA TODAY Co., the plan is to have the Detroit Free Press and The Detroit News continue to publish separately.
Related Story: Detroit Free Press and The Detroit News JOA to end, papers announce
The news comes just over a month after the dissolution of a joint operating agreement between the papers, which started in 1989. The agreement allowed for both papers to combine advertising, printing and distribution services.
“We are pleased to reach this agreement with USA TODAY Co. now that the Joint Operations Agreement has expired after decades of successful operations,” said Guy Gilmore, COO MediaNews Group in a statement. “Both companies have a mutual desire to ensure that these publications and their distinct journalism continue to serve the greater Detroit area.”
