Hints and tips:
...WaPo’s figures come from an article Cohan wrote for Inc, an American business magazine....
Standard General has acquired Tegna, an owner of 64 local TV affiliates, at an enterprise value of $8.6bn.
...Last year, Apollo backed the takeover of US newspaper business Gannett with a $1.8bn loan, at an eye-watering 11.5 per cent interest rate....
...In the first quarter of 2020, The New York Times added 587,000 digital subscriptions — more than all of the 100 newspapers owned by Gannett, the largest US print publisher, and more than the paying online...
...Earlier talks between Gannett and rival Tronc fell apart in 2016 after Gannett struggled to secure financing....
...Gannett has about 110 newspapers across the country, including larger regional titles like the Detroit Free Press, Indiana Star and the Arizona Republic....
...“Gannett’s newspapers are critical local resources, and we hope that Gannett’s incumbent board and management shift course to embrace a modern approach to local news that will sae newspapers and serve communities...
...average price of Gannett shares as of August 2....
...But the hedge fund-backed group said it would only talk to Gannett if it agreed to sign a non-disclosure agreement, which Gannett declined to sign....
...that Gannett shareholders should decide for themselves”....
...Alden, which is now locked in a takeover battle to control Gannett, one of America’s largest regional newspaper owners and publisher of USA Today, fashions itself as a saviour of troubled daily and weekly...
...Gannett said its board would “carefully review the proposal received to determine the course of action that it believes is in the best interest of the company and Gannett shareholders”....
...Gannett — the publisher of USA Today along with local papers in Arizona, Michigan and Iowa — surely qualifies as one. Gannett’s stock price has dropped a third in the last two years....
...The question has loomed over a miserable few days for news organisations, with hundreds of journalists losing their jobs at BuzzFeed, Huffington Post and Gannett — the newspaper group that owns USA Today...
...The cuts will affect 10 per cent of its staff and come after a tough few weeks for news organisations, which brought job losses for journalists at BuzzFeed, Huffington Post and Gannett, the newspaper publisher...
...namesake advisory firm M Klein & Company, for its failed bid for rival Newmont while hedge fund-backed newspaper group MNG Enterprises turned to Ken Moelis’ Moelis & Co for its hostile bid for USA Today-owner Gannett...
...Separately, USA Today owner Gannett has raised questions over whether a hostile takeover bid it received could feasibly be financed....
...freezes bonus pool after tough year (FT) Former Premier Foods chief in line for £1.1m payout (FT) Amazon backs self-driving car start-up Aurora in $530m round (FT) Digital First to Attempt an Overhaul of Gannett...
...Gannett rose 6.8 per cent....
...Gannett declined to comment. Tronc shares were down 22 per cent to $13.20 a share....
...On Tuesday, the hostile takeover saga between two leaders in US newspapers, Gannett and Tronc (née: Tribune Publishing) came to a sudden end as Gannett ditched its pursuit....
...Gannett has also criticised Mr Ferro....
...Gannett’s push to consolidate comes at a dark time for media owners....
...In the UK, rival newspapers are teaming up on joint advertising sales operations while the trend towards consolidation continues in the US, where Gannett, the owner of USA Today, recently attempted to buy...
...Gannett, the publisher of USA Today, has raised the stakes in its bid for its rival, Tribune....
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