Newspaper transactions in 2019

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Buying and Selling Newspapers

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154 daily newspapers changed hands in 2019

Propelled by the merger of Gannett and New Media Investment Group, the nation’s No. 1 and No. 2 newspaper owners as measured by circulation, the newspaper industry set a new post-recession record for transaction dollar volume in 2019.

Newspaper deal activity broke through the $1 billion barrier for the first time since 2007 in what would have been an otherwise unremarkable year.
In total, 154 daily newspapers changed hands in 2019 in 30 separate transactions worth $1.33 billion. However, the Gannett/New Media deal accounted for large portions of the dailies sold and the dollar volume. Excluding that transaction, the totals would have been 44 dailies sold in deals worth approximately $134 million.

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Lower values enticing buyers with disciplined acquisition strategies

With newspapers now trading at historically low multiples of EBITDA compared to the lofty prices paid more than a decade ago, today more than ever appears to be a great time to be investing in them. And, in fact, today’s active newspaper buyers are now taking advantage of an inventory-rich market. These buyers have a clear operating strategy and are taking a disciplined approach to new acquisitions in the current environment, reports the newspaper brokerage firm of Cribb, Greene & Cope.

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