Gannett Buys Digital Marketing Company ReachLocal for $156 Million

If you can't have Tronc, you might as well buy something else.

Gannett can’t seem to buy Tronc (formerly Tribune Publishing), so it is settling for other acquisitions. The latest is ReachLocal, a digital marketing solutions company. The $156 million deal is expected to raise Gannett’s revenue by roughly 50 percent.

“ReachLocal’s focus on local small and medium sized businesses aligns well with Gannett’s local-to-national strategy and extends our reach into new local markets,” said Gannett president and CEO Robert Dickey, in a statement. “This transaction represents an important step as we continue to transform our business to meet the changing needs of consumers and advertisers in today’s digital world.”

This is Gannett’s second acquisition this month. The company agreed to purchase several New Jersey papers—including the Garden State’s second-largest, The Record—just two weeks ago.

Publish date: June 29, 2016 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT