Gannett, moving to complete buyouts, buys Journal Media Group Inc. for $280 million
Gannett Co. Inc., owner of The Des Moines Register, plans to buy the owner of the Milwaukee Journal Sentinel for $280 million. Journal Media Group shareholders would receive $12 per share in cash should they approve the deal, which represented a 44.6 percent premium as of Wednesday. Gannett is in the midst of another round of employee buyouts as it continues to reduce its staff. The combined companies would operate in 106 local markets. Gannett would add $450 million in annual revenues. Read more
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