Image Credit: LittleVillageMag.com
By: Economic & Finance Report
Two of the country’s largest newspaper companies will be merging and creating one huge newspaper media conglomerate. New Media Investment Group (NYSE: NEWM) will buyout Gannett Co. (NYSE: GSI) for $1.38 billion dollars, in cash and stock options.
The closing of the deal is supposedly going to be complete at the end of 2019. New Media and its satellite company GateHouse Media will operate under Gannett Co. and also be headquartered in Virginia, where Gannett is also located. -SB