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.”
