Gannett Invests in Digital News Outlet Spirited Media
March 21 2016 - 4:15PM
Business Wire
Gannett Co., Inc. (NYSE: GCI) announced today that it has
taken a minority equity position in Spirited Media for an
undisclosed sum. Spirited Media operates the mobile news
site Billy Penn in Philadelphia. The investment will
allow Spirited Media to expand its mobile-first approach in the
Philadelphia market and launch into new local markets.
“Gannett is pleased with its partnership with Spirited Media,”
said Bob Dickey, CEO of Gannett. “The Spirited Media team has a
proven track record of producing high-quality journalism and
delivering engaging experiences for local markets. We look
forward to working with Spirited Media as it embarks on its next
phase of growth.”
“Gannett is the perfect partner for Spirited Media as we look to
expand in Philadelphia and beyond,” said Jim Brady, Founder and CEO
of Spirited Media. “As we look to create new economic and
journalistic models for local media, I can’t think of any better
partner than Gannett as they share our passion for journalism and
commitment to innovation.”
Spirited Media plans to leverage its successful business model
in Philadelphia— a blending of original and curated content, a
heavy social media presence, an active voice, and a focus on local
events— in new local markets.
“I am excited to leverage the model that has worked so well in
Philadelphia,” Brady said. “The enthusiasm that young news
consumers in Philly have shown for Billy Penn has been inspiring. I
look forward to bringing that enthusiasm into new local
markets.”
In less than two years, Billy Penn was named Philadelphia’s
Startup of the Year at the 2015 Philadelphia Geek Awards, was
nominated for a prestigious Online Journalism Award for its
coverage of the Amtrak 188 disaster, was awarded a $106,000 grant
by the Knight Foundation to produce a guide to mobile journalism,
became the first digital-native partner of the Pulitzer
Prize-winning PolitiFact, and became the first local independent
news site invited to participate in Facebook’s Instant Articles
launch.
District Capital Partners served as the sole financial
advisor to Gannett Co., Inc.
About Gannett
Gannett Co., Inc. (NYSE: GCI) is a new kind of media company
committed to strengthening communities across the nation. Through
trusted, compelling content and unmatched local-to-national reach,
the company touches the lives of more than 100 million people
monthly. With more than 100 markets internationally, it is known
for Pulitzer Prize-winning newsrooms, powerhouse brands such as USA
TODAY and specialized media properties. To connect with us, visit
www.gannett.com.
About Spirited Media
Spirited Media owns and operates Billy Penn, a mobile-first
platform designed to connect citizens to relevant news and
information about Philadelphia, and to drive civic engagement for a
better city. The site – created by veterans of The Washington Post,
Philadelphia Inquirer, Digital First Media, Pittsburgh
Post-Gazette, the Patriot-News, Tribune Co. and WHYY’s NewsWorks —
launched in October 2014. To learn more, visit Billy Penn, or
follow us on Facebook, Twitter and Instagram.
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version on businesswire.com: http://www.businesswire.com/news/home/20160321006219/en/
Media Contacts:Gannett Co., Inc.Amber
Allman703-854-5358aallman@gannett.comorSpirited MediaJim
Brady703-772-8651jim@billypenn.comorInvestor Contact:Gannett
Co., Inc.Michael DickersonVP, Investor
Relations703-854-6185mdickerson@gannett.com
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