1 Comment

Summary:

Gannett (NYSE: GCI) has sold off The Honolulu Advertiser and related assets including website, non-daily publications and its interest in Ha…

Honoluluadvertiser

Gannett (NYSE: GCI) has sold off The Honolulu Advertiser and related assets including website, non-daily publications and its interest in Hawaii.com, to its local arch rival Oahu Publications, owner of Honolulu Star-Bulletin. The deal is expected to close during Q2, and the two companies have already started speaking to regulatory authorities, they said. Financial terms were not disclosed.

Lots of nuances and ironies here: Gannett used to own Honolulu Star-Bulletin, until 1993, when it sold the paper to a Florida-based partnership, in return for then buying Honolulu Advertiser, avoiding the prevailing of antitrust law issues.

Then HSB was sold off again in 2000 to Black Press of Victoria, British Columbia, Canada, and administered by a council of local Hawaii investors, collectively caled Oahu Publications. The two papers broke off their long-standing JOA in 2000 when HSB was sold off. Now, back to real integration; though no indication was given whether the two papers will be folded in together, it seems likely that will happen.

OPI first made the offer to buy the Gannett paper, the companies say.

————————————————————————————-

Oahu Publications to Acquire Honolulu Advertiser

HONOLULU–(BUSINESS WIRE)–Gannett Co., Inc. (NYSE:GCI – News) and Oahu Publications, Inc. (OPI) announced today they have reached an agreement for OPI to acquire The Honolulu Advertiser and related assets including website, non-daily publications and Gannett

You’re subscribed! If you like, you can update your settings

  1. Desi Video Links Monday, May 9, 2011

    Almost fourteen months ago, my lovely bride delivered our son into
    the world. He’s got my curiosity and tenacity, which means he gets into
    everything and does it all the time. He’s also got my wife’s palette,
    which means if he doesn’t like it, he’s not going to eat it.

    When my son was sick, it was all we could do to get some medicine
    into him. We knew that the amoxicillin the doctor prescribed was going
    to cure his ear infection. It didn’t matter to him though. He fought
    it the twice-a-day the prescription called for.

    It reminded me of the argument about visual effects studios and the
    business model they work under.

Comments have been disabled for this post