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Gannett Considering Acquisition Offer

 

New Jersey’s news media market could experience a major shakeup if the owner of the Asbury Park Press, The (Bergen) Record, six other daily publications and several NJ weeklies is sold.

The Wall Street Journal reported yesterday that Gannett is a takover target by MNG Enterprises Inc., a hedge fund back company better known as Digital First Media, that owns the Boston Herald, the Denver Post about 200 newspapers throughout the country.  MNG offered Gannett $12 per share ($1.3 billion), a 23% premium over the publishers Friday closing price of $9.75.  MNG already owns 7.5% of Gannett.   At 11:08 this morning, Gannett traded at $11.51. Read the rest of this entry »

Posted: January 14th, 2019 | Author: | Filed under: Monmouth County News | Tags: , , , | 8 Comments »