August 9, 2019 / 1:14 PM / 17 days ago

MNG Enterprises discloses 9.4% stake in New Media Investment Group

Aug 9 (Reuters) - MNG Enterprises disclosed a 9.4% stake in New Media Investment Group Inc on Friday, and said it may decide to vote against the company’s proposed deal with Gannett Co.

New Media said on Monday it will buy USA Today-owner Gannett in a $1.4 billion deal, creating the biggest newspaper owner in the United States.

MNG, which is controlled by secretive hedge fund Alden Global Capital LLC, is one of the largest newspaper holding companies in the United States and owns more than 200 publications. (Reporting by Neha Malara in Bengaluru; Editing by Shailesh Kuber)

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