By: LUCIA MOSES
Gannett Co. bids
for U.K. history
Gannett Co. Inc. is looking to acquire a piece of history. The largest U.S. newspaper company in terms of circulation, Gannett made a $1.43 billion (?904 million) cash bid for Newsquest Plc., Britain’s largest publisher of regional newspapers. Newsquest publishes 180 titles, including Berrow’s Worcester Journal, the world’s oldest continuously published paper. Newsquest has 11 dailies; the rest are weeklies and niche publications.
The offer has acceptance from shareholders representing 51.7% of Newsquest shares. The acquisition doesn’t signal the start of a major expansion in Europe, Gannett’s vice president and chairman Douglas McCorkindale tells Reuters.
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