Digital First Media expected to make bid for Gannett

|About: Gannett Co., Inc. (GCI)|By:, SA News Editor

Digital First Media plans to push Gannett (NYSE:GCI) to consider a sale and will also make an offer itself at $12 per share, sources tell The Wall Street Journal.

The media group backed by hedge funds has already amassed a 7.5% stake in Gannett.

Gannett closed at $9.75 on Friday, down 19% from a year ago  when it traded very close to the expected Digital First Media offer price of $12.

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