Digital First Media reportedly poised to make offer to USA Today publisher Gannett

Digital First Media, which bought The Boston Herald in 2018 and is known for slashing jobs at publications nationwide, is reportedly poised to make an offer for USA Today publisher, Gannett Co., according to a Wall Street Journal report published online Sunday evening.

Digital First Media, which is backed by New York hedge fund firm Alden Global Capital and also conducts business as MediaNews Group, currently owns about 7.5 percent of Gannett's stock, and will offer to buy the company for $12 a share — "a 23 percent premium over Friday's closing price of $9.75," the Journal report said.

"It has over the past few years made multiple approaches to Gannett about a deal but has been rebuffed," the Journal report said. "It isn't clear whether Gannett will be receptive now."

Continue reading: The Boston Globe