Hearst Acquires Austin American-Statesman, Expanding Texas Presence

Hearst Corporation has announced an agreement to acquire the Austin American-Statesman from Gannett, expanding its media presence in Texas, where it already owns the Houston Chronicle and San Antonio Express-News. This acquisition includes not only the Statesman but also several community newspapers and digital properties, and is expected to close by the end of March 2025. Gannett's chairman, Michael Reed, stated that the sale is a strategic move to complement the Hearst brand and support Gannett's debt reduction efforts. Hearst's president, Jeff Johnson, emphasized the company's commitment to high-quality journalism and investment in flourishing communities. The Austin American-Statesman, a historic newspaper founded in 1871, has received multiple accolades, including being named Texas Newspaper of the Year. Notably, the newspaper's staff has seen significant reductions, dropping from 200 employees in 2013 to just 41 in 2023.