New Media buying Gannett for $1.4 billion to form news giant

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NEW MEDIA INVESTMENT Group has agreed to purchase Gannett for $1.38 billion. New Media owns and operates the Providence Journal. / PBN FILE PHOTO/BRIAN MCDONALD
NEW MEDIA INVESTMENT Group has agreed to purchase Gannett for $1.38 billion. New Media owns and operates the Providence Journal. / PBN FILE PHOTO/BRIAN MCDONALD
NEW YORK – New Media Investment Group Inc. agreed to acquire Gannett Co. in a $1.38 billion deal that unites the two biggest United States daily newspaper chains in an industry that’s consolidating to survive. The merged entity will be a local news giant that owns more than one-sixth of all daily newspapers in the…

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