Hearst Corp. to buy ‘Austin American-Statesman’ from Gannett

On Wednesday, the Hearst Corp. announced it has agreed to acquire the Austin American-Statesman from Gannett Co. Inc. The acquisition, expected to finalize by March 31, includes the Statesman‘s community publications – Bastrop Advertiser, Lake Travis View, Pflugerville Pflag and Round Rock Leader – as well as digital platforms like Austin360 and Hookem.com. The Hearst Corp., which is privately held, also owns the Houston Chronicle and San Antonio Express-News, along with a variety of other publications and television assets. The Austin Business Journal notes that the sale comes a few months after the paper’s management finalized a two-year contract with the union representing its newsroom, following several years of negotiation and staff turnover. Founded in 1871, the Statesman has undergone multiple ownership changes in recent years, with its business and editorial operations moved to a business park in Southeast Austin to allow for the redevelopment of its former location downtown on property along Lady Bird Lake.