Gannett Co. Inc. (NYSE: GCI), the publisher of USA Today, has acquired golf magazine Golfweek for undisclosed terms. The deal comes less than a month after the death of legendary golfer Arnold Palmer, who helped popularize the sport during the 1960s.
The deal includes Golfweek magazine, Golfweek’s digital network, along with the target’s events and custom media businesses. In addition to editorial content, Golfweek also produces events for the PGA Tour, LPGA and the United States Golf Association.
Golfweek chairman Rance Crain says “Golfweek’s avid golfer audience will be a valuable asset to Gannett.” Orlando, Florida-based Golfweek, founded in 1975, will become part of the USA Today Sports Media Group.
Golf’s popularity has been on the rise in the U.S. According to World Golf Foundation CEO Steve Mona, the number of golfers between the ages of 6 and 17 grew from 2.5 million to 3 million between 2010 and 2015. Mona attributes the increase to youth programs such as the PGA Junior League Golf and the First Tee Junior Golf Program.