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Gannett rejects $1.36-billion takeover bid : It questions motives of Digital First Media, now known as MNG, and its ability to finance the deal.

Feb 05, 2019 - Los Angeles Times

Gannett Co.'s board of directors said Monday that it had rejected a $1.36-billion buyout bid from fellow newspaper owner Digital First Media, questioning the would-be buyer's motives and accusing it of trying to conceal its "inability to finance and complete" the deal.

"After careful review and consideration, conducted in consultation with its financial and legal advisers, the Gannett board concluded that MNG's unsolicited proposal undervalues Gannett and is not in the best interests of Ga...