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Journal Media Group sets March 1 meeting to approve Gannett buyout

Dec. 23, 2015 4:45 PM ETJournal Media Group (JMG) StockBy: Jason Aycock, SA News Editor
  • Journal Media Group (NYSE:JMG +1.2%) has set a special shareholder meeting for March 1 to approve its $280M merger deal with Gannett (GCI -0.9%).
  • The companies had reached a deal on Oct. 7 where Gannett would acquire all JMG's outstanding stock for $12/share in cash. JMG closed today up 1.2% to $12.15.
  • The close of business on Jan. 21 will be the record date to determine eligible Journal Media shareholders for the vote. The special meeting will follow at 11 a.m. ET on March 1 at JMG headquarters in Milwaukee.
  • Both boards have unanimously approved the transaction.
  • Both companies had accomplished their own separate merger/spinoffs in 2015: Journal Media Group in a print/broadcast swap with E.W. Scripps, and Gannett accomplishing a print/broadcast split with Tegna.
  • Previously: Gannett, JMG get second info request from DOJ over proposed merger (Nov. 20 2015)
  • Previously: Milwaukee paper seeking more staff cuts ahead of Gannett buyout (Nov. 03 2015)
  • Previously: Confirmed: Gannett buying Journal Media in $280M deal (Oct. 07 2015)

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