Faster than a Ferrari can go from 0 to 60 miles per hour, media
company Gannett Co. has gone from a potential takeover target to a potential
buyer, according to media reports. The publisher of USA Today is listed as one
of the possible buyers of Dow Jones & Co.'s 22 Ottaway newspapers, which
News Corp. expects to sell upon closing its acquisition of the business
publisher. The other rumored bidders include Advanced Publishing Corp.,
GateHouse Media Inc., Hearst Corp. and Lee Enterprises Inc., according to
analysts who spoke to Bloomberg.
Last week, a Gannett SEC filing included changes to the
company's transitional compensation planning, leading to speculation that it
might go on the auction block. The speculation led the company to deny the
rumors. So far, Gannett has issued no press releases or memos in response
concerning interest in Ottaway. —Matthew
Wurtzel
See story from Bloomberg News
See News Corp. Dealwatch
See post about SEC filing from Dealscape
See post about response from Dealscape
Tags: Gannett, media, newspapers, deals, m&a, mergers
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