Gannett to Acquire HomeTown Communications Network

Posted on December 10, 2004

Gannett Co., Inc. has agreed to acquire the assets of HomeTown Communications Network, Inc., a community publishing company with newspapers, telephone directories, shoppers and niche publications in Michigan, Ohio and Kentucky. HomeTown has approximately 780 employees. Revenues are expected to exceed $86 million in 2004.

The HomeTown Communications Network features one daily and 62 weekly and twice-weekly community newspapers, with an aggregate, audited circulation greater than 740,000. The network also includes 24 community telephone directories with a total distribution of nearly 1,500,000; one shopping guide; and other specialty and niche publications. The company has a digital operation, with websites and Web-based services including design and production, as well as commercial typesetting and printing from four plants.

The newspaper group includes the recently launched Daily Press & Argus in fast-growing Livingston County, MI, and non-daily groups in the suburban areas near Detroit, Cincinnati/Northern Kentucky and Lansing, MI.

"Gannett is one of the world's largest newspaper companies, with a demonstrated track record of capable professional management, great financial stability and high community involvement. I wanted the newspapers, telephone directories and other publications that I spent so much of my career building to wind up in good hands after I left. I believe Gannett's hands are the best available," said Philip Power, Hometown's chairman.

Gannett Co., Inc. is a leading international news and information company that publishes 101 daily newspapers in the USA, including USA Today. The company also owns more than 600 non-daily publications in the USA and USA Weekend, a weekly newspaper magazine. Gannett subsidiary Newsquest is the United Kingdom's second largest regional newspaper company.