USA TODAY Co. Seals Deal for Detroit News, Finalizing End of Joint Operations
The nation's largest newspaper publisher has reached a binding agreement to acquire The Detroit News from MediaNews Group, marking the end of a long-running shared business arrangement between the two publications.
As part of this deal, USA TODAY Co., which already owns the Detroit Free Press, will gain control over both newspapers, bringing their editorial and business operations under one corporate umbrella. This marks the final piece in a puzzle that has seen major metro markets adopt more centralized approaches to newspaper management in recent years.
Under the joint operating agreement (JOA) formed in 1989, MediaNews Group maintained editorial authority over The Detroit News while USA TODAY Co. handled advertising, printing, circulation, and production on behalf of both publications. However, with the expiration of this JOA at the end of last year, the stage is set for a significant shift in how these two major Michigan newspapers will operate.
According to Guy Gilmore, MediaNews Group's chief operating officer, the decision to sell The Detroit News was driven by the conclusion of the joint operating structure. Both parties expressed satisfaction with the agreement, noting their shared commitment to preserving local journalism and distinct editorial voices for the greater Detroit area.
USA TODAY Co.'s acquisition of The Detroit News is expected to close in early January, pending customary closing conditions. Following completion of the deal, both publications will maintain their existing print and digital operations under USA TODAY Co.'s stewardship.
These two iconic Michigan newspapers have histories dating back over a century, with The Detroit News winning three Pulitzer Prizes and The Detroit Free Press claiming 10. Both outlets boast significant online followings, ranking among the top 15 most-visited local news websites in the United States.
Financing for this transaction has been secured through a combination of cash and borrowing arrangements facilitated by Apollo affiliates, while USA TODAY Co.'s senior secured credit facility will be revised to set interest at a SOFR-based rate with a margin of 4.5 percent and a floor of 150 basis points.
As part of the deal, editorial employees from The Detroit News are expected to join USA TODAY Co.'s ranks upon closing of the transaction, underscoring the company's commitment to preserving local journalism talent in this critical market.
The nation's largest newspaper publisher has reached a binding agreement to acquire The Detroit News from MediaNews Group, marking the end of a long-running shared business arrangement between the two publications.
As part of this deal, USA TODAY Co., which already owns the Detroit Free Press, will gain control over both newspapers, bringing their editorial and business operations under one corporate umbrella. This marks the final piece in a puzzle that has seen major metro markets adopt more centralized approaches to newspaper management in recent years.
Under the joint operating agreement (JOA) formed in 1989, MediaNews Group maintained editorial authority over The Detroit News while USA TODAY Co. handled advertising, printing, circulation, and production on behalf of both publications. However, with the expiration of this JOA at the end of last year, the stage is set for a significant shift in how these two major Michigan newspapers will operate.
According to Guy Gilmore, MediaNews Group's chief operating officer, the decision to sell The Detroit News was driven by the conclusion of the joint operating structure. Both parties expressed satisfaction with the agreement, noting their shared commitment to preserving local journalism and distinct editorial voices for the greater Detroit area.
USA TODAY Co.'s acquisition of The Detroit News is expected to close in early January, pending customary closing conditions. Following completion of the deal, both publications will maintain their existing print and digital operations under USA TODAY Co.'s stewardship.
These two iconic Michigan newspapers have histories dating back over a century, with The Detroit News winning three Pulitzer Prizes and The Detroit Free Press claiming 10. Both outlets boast significant online followings, ranking among the top 15 most-visited local news websites in the United States.
Financing for this transaction has been secured through a combination of cash and borrowing arrangements facilitated by Apollo affiliates, while USA TODAY Co.'s senior secured credit facility will be revised to set interest at a SOFR-based rate with a margin of 4.5 percent and a floor of 150 basis points.
As part of the deal, editorial employees from The Detroit News are expected to join USA TODAY Co.'s ranks upon closing of the transaction, underscoring the company's commitment to preserving local journalism talent in this critical market.
. With USA TODAY Co. sealing the deal to acquire The Detroit News, it's clear that the future of local journalism is looking a bit more centralized 
. I think this is a big development for readers who love their local news, especially since both papers have such rich histories and distinct editorial voices 
. Now, with USA TODAY Co. taking the reins, we'll have to wait and see how these iconic Michigan newspapers evolve under one corporate umbrella 
.
. Will we see more streamlined operations or a loss of local flavor? Only time will tell 
. One thing's for sure, though – with editorial talent joining forces and a commitment to preserving local journalism, I'm hopeful that these papers will continue to thrive in the digital age 
.
i mean don't get me wrong, usa today is a solid publication but can they really bring the same level of local expertise as detroit news has had for over a century? 
it's all well and good that usa today co is committed to preserving local journalism, but can they really do that while still being beholden to a bigger corporation? 
. one thing's for sure tho, it's gonna be interesting to see how detroit news adapts to life under usa today co 
. No more sharing the spotlight with their sibling publication, the Detroit Free Press! It's like they're finally getting their own superhero cape 
. And don't even get me started on the whole JOA thing – it sounds like a real snooze fest... but hey, someone's gotta make those newspaper deals happen 
. Preserving local journalism talent is definitely a big plus, so fingers crossed that the editorial voice of both outlets stays strong 
!
! Its like a dream come true for local newsies who wanna tell the stories that matter to their community without some corporate bigwig breathing down their necks 
. Plus, with both papers under one umbrella, we can expect even more in-depth coverage of Detroit and the surrounding areas 
. I mean, The Detroit News has won so many Pulitzers already, and now they get to join forces with the Free Press? its gonna be awesome 
. Can't wait for January when this deal closes and we get to see what the future holds for these two iconic papers 
.