Gannett is "spinning off" its newspaper division from its broadcasting division. Spinning off, cutting loose, jettisoning whatever. The bottom line is that a sinking ship has to dump ballast if its going to survive.
Print advertising revenue has fallen to 1950s levels and the free fall shows no sign of leveling off.
In its second-quarter earnings report, Gannett said print advertising revenue fell 5.7% to $530.1 million.