NASHVILLE, Tenn. (OSBORNE) -- The company that owns all of Tennessee’s largest newspapers will soon have a new owner.
The Gannett newspaper chain owns the Tennessean, The Memphis Commercial Appeal, and the Knoxville News-Sentinel. It also owns a number of smaller papers around the state, including the Murfreesboro Daily News and the Jackson Sun.
In a press release Monday, Gannett announced that it’s merging with New York based Gate House Media. The resulting company will be the largest newspaper chain in the U.S., operating some 250 daily publications.
The release says company officers hope the merger will save some $300 million in operating costs over two years.
So-called legacy media (newspapers, TV and radio stations) have been in decline for more than a decade. A recent study by the University of North Carolina says nationwide some 1800 newspapers have ceased publication since 2004.