After its persistent efforts to buy tronc, formerly Tribune Publishing, Gannett Co., Inc. announced its plans to acquire digital marketing company ReachLocal, Inc. with the goal to enhance Gannett’s digital revenue by 50%.
Gannett, which owns USA Today and more than 100 other media properties in the U.S., plans to acquire ReachLocal for roughly $156 million at $4.60 per share in cash. That’s a 188% premium to the unaffected closing price on Friday, June 24, 2016.
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