• USA Today Publisher Gannett Gets $1.36 Billion Hostile Bid From Newspaper Owner MNG

    4 days ago - By Fortune

    USA Today publisher Gannett Co. received an unsolicited $1.36 billion offer from MNG Enterprises, a company that has bought newspapers across the country and is known for its drastic cut costs.
    A deal would turn MNG, backed by hedge fund Alden Global Capital, into the largest owner of U.S. daily newspapers. MNG already has more than 200 daily and weekly titles, including the Denver Post and Orange County Register , and has been eliminating jobs to try to squeeze profits from the troubled sector. The moves have drawn protests from journalists.
    The cash offer of $12 a share by MNG represents...
    Read more ...

     

  • USA Today Publisher Gannett Gets $1.36 Billion Hostile Bid From Newspaper Owner MNG

    4 days ago - By Fortune

    USA Today publisher Gannett Co. received an unsolicited $1.36 billion offer from MNG Enterprises, a company that has bought newspapers across the country and is known for its drastic cut costs.
    A deal would turn MNG, backed by hedge fund Alden Global Capital, into the largest owner of U.S. daily newspapers. MNG already has more than 200 daily and weekly titles, including the Denver Post and Orange County Register , and has been eliminating jobs to try to squeeze profits from the troubled sector. The moves have drawn protests from journalists.
    The cash offer of $12 a share by MNG represents...
    Read more ...

     

  • Digital First sends buyout proposal to Gannett

    4 days ago - By Chron

    DENVER - The publisher of USA Today has received a $1.36 billion takeover bid from a media group with a history of taking over struggling newspapers and slashing costs.
    MNG Enterprises, better known as Digital First Media, said in a letter to Gannett Co. Monday that its leadership team has failed to show that it can run the company effectively.
    The Wall Street Journal was first to report that the hedge-fund backed MNG has built up a 7.5 percent stake in Gannett, and that it has been rebuffed repeatedly by the company about a sale.
    Gannett said Monday it received the letter, and its board...
    Read more ...

     

  • Gannett Receives Takeover Offer From a Rival

    4 days ago - By NY Times

    The newspaper chain MNG Enterprises is seeking to acquire Gannett, the home of USA Today and other publications.
    Read more ...