Today, the company that owns the former hometown newspaper of Nashville and 80 other cities in the U.S. announced its plans to split into two companies. (1) Gannett Good Stuff Inc. and (2) Gannett Bad Stuff Inc.
Gannett Good Stuff will be lots of TV stations and internet companies like Cars.com and CareerBuilder.com.
Gannett Bad Stuff will be 81 former local newspapers that will continue their transition into local delivery van companies specializing in distributing bundled advertising circulars to the front doors of local residents each Sunday morning. The rest of the week, the vans will be used in a new partnership Gannett Bad Stuff has entered into with the internet startup Uber.
The transaction is designed to generate large bonuses and fees for the company’s most senior executives, law firms and investment bankers.
The transaction also will lead to another round of downsizing at the 81 local delivery van companies because, well, that’s what synergy is all about.