Hearst to acquire Austin American-Statesman from Gannett

In a transaction expected to close at the end of the first quarter of 2025, Hearst is purchasing the Austin American-Statesman from Gannett Co.

Founded in 1871, the Statesman has been named Texas Newspaper of the Year three times by the Texas Associated Press Managing Editors and more recently was recognized as a 2023 Public Service Pulitzer Prizes finalist and a 2024 Edward R. Murrow Award winner.

Along with the Statesman, the sale to Hearst Corp. includes the newspaper’s community publications: Bastrop Advertiser, Lake Travis View, Pflugerville Pflag and Round Rock Leader. Related digital offerings such as Austin360 and Hookem.com also are part of the sale. 

Pointer reported the Statesman company sale makes up “the vast majority” of the $60 to $70 million in asset sales Gannett expects to execute this year. Proceeds will be used to pay down Gannett’s debt.

“Hearst has a stellar reputation in the publishing industry and their values are uniquely aligned with ours,” said Michael Reed, Gannett chairman and chief executive officer. “The sale of the Austin American-Statesman from our portfolio is a strategic decision that will complement the Hearst brand while positioning Gannett and the USA TODAY Network of more than 200 local publications for future growth. We are confident Hearst will be a great home for our Statesman colleagues.”

Hearst Newspapers, the operating group responsible for Hearst’s newspapers, local digital marketing services businesses and directories, publishes 26 dailies and 52 weeklies across the U.S.

In Texas, Hearst owns the Houston Chronicle, Conroe Courier, Beaumont Enterprise, San Antonio Express-News, Laredo Morning News, Midland Reporter-Telegram, the Plainview Herald, Canyon News, Jasper Newsboy and the Muleshoe Journal.

“This acquisition complements Hearst’s set of newspapers and reinforces our commitment to delivering high-quality journalism,” said Jeff Johnson, president of Hearst Newspapers. 

“It aligns with our strategy to invest in thriving communities with strong potential.”