USA TODAY Co. has submitted a letter of intent to acquire The Detroit News from MediaNews Group one month after the joint operating agreement (JOA) between The News and the Detroit Free Press ended after almost 40 years. Terms of the proposed sale were not disclosed.
USA TODAY Co. already owns the Detroit Free Press, but officials say the two papers will continue to be published separately.
“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,” says Michael Reed, chairman and CEO 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 News was founded in 1873. In 1989, a JOA between the Detroit Free Press and The Detroit News was created to combine advertising, printing, and distribution services which ended on Dec. 28, 2025.
USA TODAY Co., formerly known as Gannett Co. Inc., and MediaNews Group — owner of The News — in June opted against renewing the longstanding agreement, thus ending among the last such tie-ups in the country. The companies have not provided further reasoning behind the split.
“We are pleased to reach this agreement with USA TODAY Co. now that the Joint Operations Agreement has expired after decades of successful operations,” says Guy Gilmore, COO of MediaNews Group. “Both companies have a mutual desire to ensure that these publications and their distinct journalism continue to serve the greater Detroit area.”
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. 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 percent 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.
 between The News and the Detroit Free Press ended after almost 40 years. Terms of the proposed sale were not disclosed.){kind=link}