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Gannett Will Spin-Off Paper Business

 
Posted Tuesday, August 5th 2014 @ 7am

Media owner Gannett says it is moving forward in spinning off its newspaper publishing business. 

The company was started in Rochester and owns of the Democrat and Chronicle and the USA Today.

Gannett says it will create two publicly traded companies; one focusing on its broadcasting and digital businesses, the other on its publishing businesses.

Separately, Gannett confirmed it will spend $1.8 billion to fully acquire Cars.com.

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