Business

Digital First Media plans to make offer to buy Gannett

3 days ago   |   By New York Post

Jan 13 - Newspaper chain MNG Enterprises Inc plans to make an offer to buy USA Today publisher Gannett Co Inc for $12 per share, the Wall Street Journal reported on Sunday. The reported price represents a 23 percent premium to Gannett's $9.75 close on Friday. Better known as Digital First Media - MNG Enterprises...
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Digital First Media is reportedly planning to make an offer to buy USA Today publisher Gannett

Digital First Media is reportedly planning to make an offer to buy USA Today publisher Gannett

3 days ago   |   By Business Insider

Media News Group Enterprises , better known as Digital First Media, is reportedly planning to make an offer to buy USA Today publisher Gannett Co. at $12 per share.
The offer would represent a 23% premium over Gannett's Friday closing share price of $9.75.
The Wall Street Journal , citing people familiar with the matter, said MNG Enterprises Inc. has already accumulated a 7.5% position in Gannett's stock.
MNG and its hedge fund backer Alden have acquired a reputation for slashing costs at its media investments leaning on a strategy of layoffs.
A hedge-fund-backed media group with a...
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