Gannett Reportedly Nears Deal To Merger With GateHouse Media

(RTTNews) - USA Today publisher Gannett Co. (GCI) is nearing a deal to merger with rival GateHouse Media, according to the reports citing people familiar with the matter.

They are discussing a cash-and-stock deal in which GateHouse or its parent would likely buy Gannett and its Chairman and Chief Executive Mike Reed would assume the same roles at the enlarged entity, the report said.

A deal could be announced in the next few weeks assuming the talks don't fall apart, the reports said.

GCI closed Thursday regular trading at $7.90, down $0.18 or 2.23 percent. But, in the after-hours stock gained $0.84 or 10.55 percent.