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Standard General has acquired Tegna, an owner of 64 local TV affiliates, at an enterprise value of $8.6bn.
Subscriptions are up but advertising has collapsed for media groups that were already under intense pressure
Move will combine America’s two largest newspaper publishers
Deal would merge the two largest owners of newspapers in the US by circulation
Welcome to Due Diligence, the FT’s daily deals briefing
Alden’s $1.4bn bid to buy Gannett has revived questions over the role of hedge funds in a sector that has lost thousands of jobs
Reader appetite is healthy but converting audiences into income remains a challenge
The sorry state of local US news is leaving incumbents vulnerable
Hedge fund-backed owner of US newspapers has reputation for cost-cuts and firing journalists
Concerns echo across global media industry grappling with circulation and ad woes
Easy money has found its red line: newspapers
News and data provider Thomson Reuters to cut 2,000 jobs as part of restructuring
A good summer for news failed to offset the worsening outlook for print advertising
Unclear if an agreement will be reached after past week’s discussions
Suitor Gannett reviewing whether to proceed with takeover offer
Hostile takeovers always feature lots of tough talk. But money, not rhetoric, normally wins the day
Move comes as LA Times publisher is being stalked by rival Gannett
Publisher’s earlier bid was rejected by owner of LA Times and Chicago Tribune
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