Bloomberg: Apollo Global near deal for Digital First Media

• Even though newspaper readership is on the decline, private-equity firms believe they can squeeze out a profit by wringing out enough costs and combining that effort with new digital offerings.
• Apollo Global (NYSE:APO) is in advanced talks to purchase Digital First - the publisher of the Denver Post and San Jose Mercury News - for about $400M, reports Bloomberg. The company has EBITDA of about $125M, though assets generating $25M of that are being left out of the sale.