Austin American-Statesman sold to new owners

March 06, 2018 - 10:31 pm

AUSTIN (KJCE) -- Austin's daily newspaper is headed for new ownership.

The Austin American-Statesman, which has been owned by Atlanta-based Cox Enterprises for more than 40 years, is being sold to GateHouse Media. The purchase price is $47.5 million, and the transaction is expected to close later this spring.

GateHouse, based in New York, owns 130 daily newspapers, including 24 in Texas. The company operates the Amarillo Globe News and the Lubbock Avalanche-Journal, among others. GateHouse also says it operates more than 540 local market websites and is a part of publicly traded New Media Investment Group.

The purchase includes the Statesman as well as the Spanish-language Ahora Si, and the Austin Community Newspapers group, which includes weekly publications such as the Bastrop Advertiser, the Lake Travis View, the Round Rock Leader, and the Westlake Picayune.

The Statesman was originally founded in 1871 as the Democratic Statesman, and merged with the rival Austin American in 1924. Cox purchased the paper in 1976.

Cox announced it was seeking a buyer for the newspaper back in October 2017. The purchase does not include a 19 acre tract on Lady Bird Lake that is currently home to the paper's offices; that tract, now owned by members of the Cox family, is slated for future redevelopment.

Comments ()