McClatchy Completes Merger with accelerate360
The new company will operate as the McClatchy Media Company
SACRAMENTO, Calif.--(BUSINESS WIRE)--December 13, 2024--
McClatchy, a local news and information company, today announced the successful completion of its merger with accelerate360, a distribution, logistics, and media company. The new company will operate under the McClatchy Media Company $(MMC)$ moniker.
The new company combines McClatchy's essential local journalism, a360media's engaging lifestyle and entertainment content, and accelerate360's extensive retail distribution network. This merger establishes MMC as a dynamic digital publishing platform with high-quality, relevant content and an audience of 100 million unique visitors.
"We are excited to bring together the strengths of McClatchy, a360media, and accelerate360," said MMC CEO and Chairman Tony Hunter. "The combination creates many opportunities to leverage our digital platform at scale, provide additional original content offerings to consumers, and targeted audience access to our marketing partners. The vast distribution network and access to over 56,000 retail locations in North America add to the immense opportunities afforded by this merger."
Key highlights of the merger include:
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Consumer Value: Optimizing each brand's content, offerings, and user
experience to increase consumer value.
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Audience Reach: Combining McClatchy's local news audience with
a360media's entertainment and lifestyle-focused audiences will enhance
the new company's advertising, affiliate, and e-commerce offerings.
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Marketing Opportunities: Enhanced products, personalized digital
offerings, and new content verticals.
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Operational Efficiency: Streamlined, automated back-office operations
will reduce costs and improve operating leverage.
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Stronger Financials: An improved balance sheet and free cash flow allow
for greater investment in technology, talent and acquisitions.
McClatchy Media Company's leadership team is comprised of the following executives:
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Tony Hunter, Chief Executive Officer
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Billie McConkey, Chief Administrative Officer, Chief Legal Officer,
Corporate Secretary
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Chuck Howell, President and Chief Operating Officer, McClatchy Retail
Network
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Jeffrey Dorsey, Chief Operating Officer
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Robyn Tomlin, Chief Content Officer
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Stephanie Zarate, Chief Accounting Officer, Treasurer
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Tony Berg, Chief Revenue Officer
"We are pleased to complete this strategic merger of two highly complementary organizations and excited to have a terrific team of seasoned operating executives leading the newly formed McClatchy Media Company," said Chatham Asset Management, the majority owner of MMC.
About the McClatchy Media Company
The McClatchy Media Company features a portfolio of vibrant and trusted news, lifestyle, entertainment brands and a robust retail distribution network. Our iconic local news brands such as the Miami Herald, The Kansas City Star and The Sacramento Bee, are complemented by popular lifestyle and entertainment brands such as Us Weekly and Woman's World. Together, our brands reach more than 100 million unique visitors a month, The McClatchy Retail Network, our distribution and logistics arm, offers delivery to more than 56,000 retail locations weekly.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241212699457/en/
CONTACT: Julie Pendley
jpendley@mcclatchy.com
Website: www.mcclatchy.com
(END) Dow Jones Newswires
December 13, 2024 15:27 ET (20:27 GMT)
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