Vernon Publishing, Inc. agreed to acquire Group of Publications in the Lake of the Ozarks region of Missouri from Gannett Co., Inc..
August 04, 2021
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Vernon Publishing, Inc. agreed to acquire Group of Publications in the Lake of the Ozarks region of Missouri from Gannett Co., Inc. (NYSE:GCI) on August 5, 2021. The publications being acquired include the Lake Sun, Lake of the Ozarks Real Estate, Boats Magazine, Lake Leader, Lake Lifestyles Magazines, and Vacation News, all published in Camdenton. The Lake Leader's news website, LakeNewsOnline.com, was also included in the purchase. The transaction is expected to close on September 1, 2021. Dirks, Van Essen & April, a media merger and acquisition firm based in Santa Fe, New Mexico, represented Gannett in the transaction.
Gannett Co., Inc. is a diversified media company. The Company operates through three segments: Domestic Gannett Media, Newsquest and Digital Marketing Solutions (DMS). Its Domestic Gannett Media segment comprises USA TODAY, daily and weekly content brands in approximately 220 local United States markets across 43 states and its community events business, USA TODAY NETWORK Ventures. Its core print offerings include home delivery offered on a subscription basis, single copy, and non-daily publications. Its Newsquest segment in the United Kingdom consists of over 220 digital news and media brands across its portfolio, including over 150 daily and weekly newspapers and over 70 magazines. Its DMS segment is dedicated to helping local businesses succeed through digital advertising and marketing solutions. The DMS segment, under the brand LocaliQ, is a cloud-based platform of fully-digital products that delivers customers and drives leads through technology and insights.
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