August 5, 2019 / 6:49 PM / 13 days ago

New Media to buy USA Today-owner Gannett in $1.4 bln deal

Aug 5 (Reuters) - New Media Investment Group said on Monday it will buy USA Today-owner Gannett Co, valuing the company at about $1.4 billion.

The cash-and-stock deal represents total consideration of $12.06 per Gannett share based on New Media’s closing stock price as of Aug. 2, 2019. (Reporting by Vibhuti Sharma in Bengaluru; Editing by Shinjini Ganguli)

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