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New Media to buy USA Today-owner Gannett in $1.4 bln deal

Credit: REUTERS/LARRY DOWNING

New Media Investment Group said on Monday it will buy USA Today-owner Gannett Co, valuing the company at about $1.4 billion.

Aug 5 (Reuters) - New Media Investment Group NEWM.N said on Monday it will buy USA Today-owner Gannett Co GCI.N, valuing the company at about $1.4 billion.

The cash-and-stock deal represents total consideration of $12.06 per Gannett share based on New Media's closing stock price as of Aug. 2, 2019.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Shinjini Ganguli)

((vibhuti.sharma@thomsonreuters.com; within U.S. +1-646-223-8780; outside U.S. +91 702 213 2017; Reuters Messaging: vibhuti.sharma.thomsonreuters@reuters.net; Twitter- @VibhutiSharmas))

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