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Gannett in talks to join forces with rival GateHouse

Drew Hansen
Gannett in talks to join forces with rival GateHouse

McLean-based Gannett Co. Inc. (NYSE: GCI) is closing in on a cash-and-stock deal to be acquired by GateHouse Media LLC parent company New Media Investment Group Inc. (NYSE: NEWM), according to The Wall Street Journal. The deal would combine Gannett with GateHouse, two of the country’s largest newspaper groups based on circulation. Gannett’s share price, which closed at $7.90 on Thursday, rose 8% in after-hours trading after news of a potential deal surfaced.