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Gannett to Buy Journal Media Group for $280 Million

from USA Today

Gannett, the publishing company that owns USA TODAY and media businesses in 92 local markets, said that it has agreed to buy Journal Media Group for about $280 million, following through on a strategy of acquiring additional local news outlets after it was spun off from its former parent in June. Shareholders of Milwaukee-based Journal Media Group will receive $12 a share in cash. That is a 45 percent premium from the Wednesday closing price of $8.30. more


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