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SPACE.com Lands Deal with Gannett

Gannett Co. Inc., an earthly publishing conglomerate, Thursday forged an alliance with SPACE.com, a Web site dedicated to outer space and space-related subjects.

As part of the strategic media partnership, Gannett becomes an equity advisor to SPACE.com while SPACE.com has acquired Gannett's space media properties for its portfolio of publishing, broadcast, Web and software businesses.

SPACE.com will acquire Space News newspaper and two Gannett Web sites: spacenews.com and Florida Today's Space Online site. Gannett, in turn, will provide cash investment as well as substantial marketing and promotional support of its media assets in exchange for an interest in SPACE.com.

Financial terms of the deal were not disclosed.

The combination of assets bodes well for all involved, noted Douglas H. McCorkindale, president and CEO of Gannett. "The partnership will create a clear leader in delivering multimedia news and information about space," he said. "Gannett and its shareholders will benefit from this partnership."