• Gannett Shares Soar On $1.4B Hostile Bid From Digital First Media

    9 days ago - By Deadline

    Digital First Media , a hedge fund-backed entity known for scooping up local newspapers and then aggressively cutting costs and jobs, has made an unsolicited $1.36 billion offer for Gannett .
    Shares in Gannett have soared 18% on the news, reaching $11.50 in morning trading.
    The management of Gannett indicated it will consider the offer at the board level, but the offer letter did not mince words, saying that Digital First believed that Gannett's leadership has failed to...
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  • Digital First Media Hedge Fund Eyes Purchase of Gannett

    9 days ago - By The Wrap

    Digital First Media is making an aggressive play to buy Gannett, offering $12 a share for the struggling publisher on Monday. The figure is a 23 percent premium on Gannett's current share price of roughly $9.75.
    Digital First Media already owns a 7.5 percent stake in the publisher. In a letter to the Gannett board of directors, Digital First said the current leadership was not working and cited the company's tumbling share price since going public more than two years ago as proof.
    The news was f irst reported in the Wall Street Journal.
    Gannett, which publishes USA Today in addition to a...
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