Newspaper publisher Gannett Co. Inc. has not received any acquisition offers, including one from Digital First Media, Gannett-owned USA Today reported.
Gannett's retiring President and CEO Robert Dickey told employees that the company had not received any communication about a proposal, and that "it's business as usual" in the meantime.
The Wall Street Journal had reported that Digital First Media, officially MNG Enterprises Inc., was preparing an offer to buy Gannett for $12 per share. The former quietly built a 7.5% stake in Gannett and is planning to urge the latter to put itself up for sale.
Digital First Media, formed in 2013 from the merger of MediaNews Group Inc. and 21st Century Media, is backed by New York-based hedge fund Alden Global Capital LLC. It acquired the Boston Herald in 2017 after the tabloid had filed for bankruptcy over declining revenues, according to the Journal.