Bid For Gannett Spurs Fears Of Consolidation

NEW YORK — A hedge fund-backed bid to buy Gannett Co., the publisher of USA Today and several other major dailies, is renewing fears of consolidation and job losses — as well as a decline in the quantity and quality of news coverage — in the already battered newspaper industry. MNG Enterprises, better known as Digital First Media, offered $1.36 billion on Monday for Gannett, saying in a letter that it can run the company more profitably via tight cost controls and consolidation of operations such as printing and administration. Gannett said its board will review the proposal. Investors gave the deal a vote of confidence, immediately pushing Gannett stock up more than 20 percent to almost $12, the amount Digital First is offering. The proposed deal is the latest indication newspapers aren’t done suffering from the punishing effects of the internet.

Sections:  u.s.   
Topics:  Washington   Clark County   Vancouver   
RELATED ARTICLES
  • New building for Pacific Northwest National Lab campus
    RICHLAND — The federal government’s Pacific Northwest National Laboratory will build a new $90 million energy sciences research building on its Richland campus. A contract to design and construct the building has been awarded to a Houston-based team of Harvey Cleary Builders and Kirksey Architecture. The Tri-City Herald says the facility will cover 110,000 to 145,000 square feet. More
  • ‘Scumbag’ comment gets juror removed in Pasco double-murder trial. Judge says it’s not her fault
    PASCO, Wa. — A relative of a Pasco homicide victim, who phoned a juror last week, admitted calling the accused killer a “scumbag” during the brief telephone conversation. The relative was tracked down and interviewed by a defense investigator on Friday after the juror in Hector Orozco Jr.’s double-murder trial told court officials about the phone call. On Tuesday, attorney Daniel Stovern renewed his claim of jury tampering based on the conversation between “Juror No. More
  • New trial starts for 2 charged in homeless camp killing
    SEATTLE — A new trial has started for brothers accused of fatally shooting two people and wounding three others at the Seattle homeless encampment known as the Jungle. The Seattle Times reports James and Jerome Taafulisia are being tried for again on murder and assault charges in connection with the Jan. More
  • Woman sues Home Depot for $1.5M after termination
    BEND, Ore. — A Bend Paralympic athlete is suing Home Depot for $1.5 million, claiming the company did not consider her disability when it fired her in 2017. The Bulletin reports in a complaint filed Tuesday in Deschutes County Circuit Court, Barbara Buchan claims that after suffering a concussion in a fall at work, management fired her for keeping $11 worth of presentation materials in her vehicle overnight. More
  • 1 dead in Burien fire
    BURIEN — A woman was found dead and a second was injured as fire burned an apartment building in Burien. KOMO reports that firefighters arrived at the Forest View Apartments around 6 p.m. Tuesday to find flames burning on at least three floors. About two dozen people from seven affected apartments are receiving assistance from the Red Cross. More

 

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More U.s. News