Digital First Media Secures $1.725B for Hostile Takeover of Gannett
The battle for ownership of Gannett is heating up. Last week, MNG Enterprises, also known as Digital First Media, announced that it has secured a letter from investment firm Oaktree Capital Group that states it is confident that Digital First Media can fund an acquisition for at least $1.725 billion. At this level of investment, Digital First Media could pay Gannett $12 per share, including any associated costs and the refinancing of MNG and Gannett debt.
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