According to WSJ, Gannett (GCI) approached by Hedge-Fund-Backed Media Group

POTENTIAL DEAL DETAILS

A hedge-fund-backed media group known for buying up struggling local papers and cutting costs is planning to make an offer for USA Today publisher Gannett Co., (GCI) according to people familiar with the matter.

Update(s):

January 16, 2019: In the weeks before Gannett Co. became the target of a takeover bid by a hedge fund-backed media group, the company was approached by Tribune Publishing Co. about reviving merger talks between the newspaper publishers that had fallen apart in acrimony two years earlier, according to people familiar with the matter.

February 01, 2019: Gannett Co., (GCI) suitor Digital First Media has hired a financial adviser as it seeks to press its $1.4 billion bid for the USA Today publisher.

February 05, 2019: Gannett Co Inc (GCI) on Monday rejected newspaper chain MNG Enterprises Inc’s $1.36 billion buyout offer, saying it undervalued the company and was not credible.

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