The Austin American-Statesman: A New Chapter in Journalism
The Austin American-Statesman is undergoing another change in ownership. Hearst, a renowned media company, has agreed to purchase the Statesman from Gannett, a leading media conglomerate. The sale price remains undisclosed.
The Deal
The acquisition includes the Statesman, as well as other Austin-area publications, such as the Bastrop Advertiser, Lake Travis View, Pflugerville Pflag, and Round Rock Leader. Additionally, the deal covers websites like Austin360 and Hookem.com. This strategic move reinforces Hearst’s commitment to delivering high-quality journalism and investing in thriving communities with strong potential.
Hearst’s Commitment to Journalism
Jeff Johnson, president of Hearst’s newspaper division, expressed his enthusiasm for the acquisition, stating, "This acquisition complements Hearst’s set of newspapers and reinforces our commitment to delivering high-quality journalism. It aligns with our strategy to invest in thriving communities with strong potential. We look forward to welcoming the Austin American-Statesman team to Hearst, joining 2,300 committed Hearst [newspaper] professionals across the country."
A New Chapter for the Statesman
The deal is expected to be completed by March 31, marking a new chapter in the Statesman’s history. The acquisition comes seven years after Cox Enterprises sold the Statesman to Gatehouse Media for $47.5 million. Gannett acquired the Statesman when it merged with Gatehouse in a 2019 deal valued at $1.4 billion.
Hearst’s Texas Holdings
The purchase of the Statesman and other Austin-area publications boosts Hearst’s presence in Texas. The company already owns the San Antonio Express-News and Houston Chronicle, as well as the Beaumont Enterprise, Laredo Morning Times, Midland Reporter-Telegram, and Plainview Herald. Additionally, Hearst owns Austin Monthly and Austin Home magazines, the Austin Daily digital newsletter, and San Antonio Magazine.
Gannett’s Perspective
Gannett Chairman and CEO Mike Reed highlighted the strategic nature of the sale, stating, "Hearst has a stellar reputation in the publishing industry and their values are uniquely aligned with ours. The sale of the Austin American-Statesman is a strategic decision that will complement their brand while positioning Gannet 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."
The Statesman’s Circulation
As with many newspapers, the Statesman’s circulation has declined in recent years. The combined print and digital circulation fell from 79,545 in 2022 to 70,733 in 2023, according to the Express-News.
Workforce Impact
It is unclear how Hearst’s ownership will affect the Statesman’s workforce. Newsroom employees at the Statesman unionized in 2021, according to the Express-News. The newspaper’s editorial staff has also seen significant reductions, dropping from 200 employees in 2013 to 41 in 2023, according to the NewsGuild-Communications Workers of America.
FAQs
Q: What is the sale price of the Austin American-Statesman?
A: The sale price remains undisclosed.
Q: Which publications are included in the deal?
A: The deal includes the Austin American-Statesman, Bastrop Advertiser, Lake Travis View, Pflugerville Pflag, Round Rock Leader, and websites like Austin360 and Hookem.com.
Q: How will Hearst’s ownership affect the Statesman’s workforce?
A: It is unclear at this time, but it is possible that Hearst’s ownership could lead to changes in the Statesman’s workforce.
Q: What is Hearst’s commitment to journalism?
A: Hearst is committed to delivering high-quality journalism and investing in thriving communities with strong potential.
