USA TODAY Co. Signs Letter of Intent to Acquire The Detroit News
USA TODAY Co. (TDAY) announced the execution of a binding Letter of Intent with MediaNews Group, a subscriber focused media company, to acquire The Detroit News. "The acquisition of The Detroit News will be a strategic investment that strengthens the USA TODAY Network's audience and its portfolio of more than 200 local publications nationwide and reinforces our commitment to local journalism in the Detroit metropolitan area," said Michael Reed, Chairman and Chief Executive Officer of USA TODAY Co. "Welcoming The Detroit News fully to our network will enable the continued delivery of trusted, high-quality news and content to our audiences and advertisers in the region." The Detroit Free Press and The Detroit News will continue to publish separately. Financing for the transaction is being funded partially with cash on the balance sheet, and in part with incremental debt financing from funds managed by affiliates of Apollo (APO). As part of the financing, certain terms of USA TODAY Co.'s existing senior secured credit facility have been amended and the facility will bear interest at an annual rate equal to SOFR plus a margin of 4.5% with a floor of 150 basis points. The closing of the transaction is subject to customary closing conditions. The transaction is anticipated to close at the end of the month. Deal terms will not be disclosed.
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USA TODAY Co. to Present Virtually at 28th Annual Needham Growth Conference on January 15, 2026
- Conference Announcement: USA TODAY Co. will present virtually at the 28th Annual Needham Growth Conference on January 15, 2026, at 8:45 AM ET, featuring CEO Michael Reed and CFO Trisha Gosser, showcasing the company's future growth strategies.
- Information Access: The conference video webcast will be available through the Investor Relations section of the company's website and archived for 90 days post-presentation, ensuring investors and the public can access important information, thereby enhancing transparency.
- Company Overview: USA TODAY Co. is a diversified media company dedicated to providing high-quality journalism and digital marketing solutions across national and local markets, aiming to inspire and connect communities while driving sustainable growth.
- Digital Marketing Support: The company's LocaliQ brand supports small and medium-sized businesses with innovative digital marketing products and solutions, further solidifying its market position in the digital marketing sector.
What’s Behind the Rise in USA Today Share Prices?
USA Today and Meta Partnership: USA Today Co. has announced a multi-year AI licensing partnership with Meta, allowing the latter access to new and archival content from USA Today and over 200 local publications.
Impact on Meta's AI: The partnership will enable Meta to feature news and information across its apps, with AI-generated answers linking to USA Today articles for attribution and context.
Market Reaction: Following the announcement, shares of USA Today rose by 9.88%, trading at $5.56.
CEO's Statement: Mike Reed, CEO of USA Today, emphasized the partnership as a model for responsible collaboration between journalism and technology, highlighting the value of their content.
