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

  • January 14, 2019

POTENTIAL DEAL DETAILS

StockGannett Co., Inc.SymbolGCI
Date Announced01/13/2019Source The Wall Street Journal
TypeNews Report

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.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.