Media

TexasTowelie

(112,690 posts) Mon Jan 14, 2019, 02:24 AM Jan 2019

Report: Hedge Fund looks to buy Gannett

A media group with a history of purchasing struggling newspapers and cutting costs by dramatically reducing the number of journalists, is trying to buy the company that operates eight daily newspapers in New Jersey.

The Wall Street Journal is reporting tonight that MNG Enterprises, a major U.S. newspaper chain owner backed by a New York hedge-fund Alden Global Capital, is preparing to make an offer to purchase Gannett.

-snip-

MNG Enterprises, also known as Digital First Media, is prepared to offer Gannett $12 a share. Gannett stock closed on Friday at $9.75 a share, the Wall Street Journal reported.

“Digital First is known for its contentious history with the newspaper industry in part because of its penchant for slashing costs,” the WSJ wrote.

Read more: https://newjerseyglobe.com/fl/report-hedge-fund-looks-to-buy-gannett/

While Gannett media (USA Today) gets panned for their generic layout, Digital First Media is much more conservative.

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Report: Hedge Fund looks to buy Gannett (Original Post) TexasTowelie Jan 2019 OP

Oh great! Another RW propaganda media channel! democratisphere Jan 2019 #1

I'm surprised that this news wasn't posted previously. TexasTowelie Jan 2019 #2

The RW is taking over even more TV, Radio, Print and Internet media. democratisphere Jan 2019 #3

This message was self-deleted by its author Tech Jan 2019 #4

democratisphere

(17,235 posts)

1. Oh great! Another RW propaganda media channel!

Reply to TexasTowelie (Original post)

Mon Jan 14, 2019, 02:35 AM

Jan 2019

Will this sh't never end?!

TexasTowelie

(112,690 posts)

2. I'm surprised that this news wasn't posted previously.

Reply to democratisphere (Reply #1)

Mon Jan 14, 2019, 02:44 AM

Jan 2019

This is a fairly big deal that would give Digital First access to markets that they don't currently serve. Gannett is big in Louisiana, Michigan, New Jersey, Tennessee, and Wisconsin.

democratisphere

(17,235 posts)

3. The RW is taking over even more TV, Radio, Print and Internet media.

Reply to TexasTowelie (Reply #2)

Mon Jan 14, 2019, 05:52 AM

Jan 2019

This is frightening based on their past and current track record for pushing RW propaganda and lies!

Response to TexasTowelie (Original post)

Tech This message was self-deleted by its author.

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