Journal Media Group shareholders OK Gannett sale
Shareholders of Milwaukee-based Journal Media Group on Tuesday approved the company's $280 million sale to Gannett, the publishing company that owns USA TODAY and media businesses in 92 local markets.
More
than 92% of the shares voted at a special meeting of shareholders were
in favor of the transaction, representing more than 71% of all
outstanding shares, Journal Media Group said.
The transaction, announced in
October, is expected to close this month.
Journal Media Group (JMG) owns the 178-year-old Milwaukee Journal Sentinel, The Commercial Appeal of Memphis, 13 other daily newspapers, 18 weeklies and their affiliated websites in 14 U.S. markets in nine states.
Finalization of the deal would give Gannett (GCI) a media outlet in 106 local U.S. markets, the company said in its annual report filed with the Securities and Exchange Commission on Feb. 25.(...)
No comments:
Post a Comment