GCI - Lee Enterprises: Big Winner From Newspaper M&A Fever? Stock Could Triple This Year
When a New York hedge fund launched a hostile $1.3 billion bid for Gannett (GCI), publisher of USA Today and over 100 local newspapers, it put 2019 on track to be the year of M&A in the newspaper world. Declining readership and money going to online advertising have CEOs hunting deals to find companies to buy before they themselves get bought. Survival of the fattest.
How can investors profit from this potential wave of newspaper dealmaking? I look at three factors to find the best target when an industry is consolidating: strategic position,