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The publisher of USA Today has received a $1.36 billion takeover bid from a media group with a history of taking over struggling newspapers and slashing costs.
MNG Enterprises, better known as Digital First Media, said in a letter to Gannett Co. Monday that its leadership team has failed to show that it can run the company effectively.
Wall - Street - Journal - Hedge-fund - MNG
The Wall Street Journal was first to report that the hedge-fund backed MNG has built up a 7.5 percent stake in Gannett, and that it has been rebuffed repeatedly by the company about a sale.
Gannett said Monday it received the letter, and its board will carefully review the proposal.
McLean - Publisher - Dozens - Newspapers - Record
The McLean, Virginia-based publisher owns dozens of newspapers including the Record in New Jersey...
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The beatings will continue until moral improves.