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NEWM

New Media

$6.33

0.005 (0.08%)

, GCI

Gannett

$9.68

(0.00%)

16:06
11/19/19
11/19
16:06
11/19/19
16:06

New Media, Gannett complete merger

New Media Investment Group Inc. (NEWM) and Gannett Co., Inc. (GCI) jointly announced the successful completion of the previously announced acquisition of Gannett by New Media for a combination of cash and stock. As previously announced, Gannett stockholders are entitled to receive $6.25 in cash and 0.5427 shares of New Media common stock per share of Gannett common stock in the Merger. The combined company will operate under the name "Gannett Co., Inc.". Beginning on November 20, 2019, New Media will trade on the New York Stock Exchange under this name and its ticker symbol will be changed to "GCI". Michael Reed will remain Chairman and Chief Executive Officer of the combined company and Paul Bascobert will serve as Chief Executive Officer of the operating subsidiary, Gannett Media Corp.

NEWM

New Media

$6.33

0.005 (0.08%)

GCI

Gannett

$9.68

(0.00%)

NEWM New Media
$6.33

0.005 (0.08%)

03/27/19
SBSH
03/27/19
UPGRADE
Target $10
SBSH
Neutral
Citi upgrades New Media to Neutral, sees stock rallying on dividend cut
Citi analyst Jason Bazinet earlier today upgraded New Media Investment Group to Neutral from Sell while lowering his price target for the shares to $10 from $12. At current stock levels, the analyst sees a balanced risk/reward profile. Bazinet no longer sees downside risks over the next 12 months and believes that if New Media cuts its dividend, the equity may rally. As such, he no longer believes a Sell rating is warranted. The analyst outlines three potential paths going forward: New Media maintains the dividend and continues to pursue acquisitions, the company maintains the dividend and stops M&A, or it reduces the dividend. The stock in morning trading is up 4c to $11.10.
07/22/19
SBSH
07/22/19
UPGRADE
Target $14
SBSH
Buy
New Media upgraded to Buy from Neutral at Citi
Citi analyst Jason Bazinet upgraded New Media Investment Group (NEWM) to Buy from Neutral and raised his price target for the shares to $14 from $10. The analyst's new price target is based on the assumption that New Media acquires Gannett (GCI) as he thinks the likelihood of the transaction occurring is very high following recent media reports. As the synergies come through, there would be a "fairly rapid path" to New Media's leverage falling to around 2.0 times within 24 months of the deal closing, Bazinet tells investors in a research note.
08/06/19
NBLE
08/06/19
DOWNGRADE
NBLE
Market Perform
Gannett downgraded to Market Perform from Outperform at Noble Capital
Noble Capital analyst Michael Kupinski downgraded Gannett (GCI) to Market Perform from Outperform after the company announced a deal to be acquired by New Media Investment Group (NEWM) for roughly $1.4B in cash and stock. He does not foresee regulatory issues or problems with shareholder approval and anticipates a fairly quick closing, noted Kupinski, who thinks it is unlikely that another higher offer emerges.
08/07/19
SBSH
08/07/19
NO CHANGE
Target $11
SBSH
Buy
New Media price target lowered to $11 from $14 at Citi
Citi analyst Jason Bazinet lowered his price target for New Media Investment Group (NEWM) to $11 from $14 saying the company's acquisition of Gannett (GCI) is "not as compelling" as he expected. A higher cost synergy target and Fortress management agreement termination were positive surprises, but the higher offer price, pro-forma debt balance, and interest rate as well as slower synergy realization were negative relative to expectations, Bazinet tells investors in a research note. He maintains a Buy rating on shares of New Media.
GCI Gannett
$9.68

(0.00%)

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HSBC

HSBC

$37.15

0.44 (1.20%)

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PLCE

Children's Place

$54.36

-16.31 (-23.08%)

19:54
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LVGO

Livongo Health

$27.55

1.48 (5.68%)

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    Dec

CVX

Chevron

$116.22

-1.68 (-1.42%)

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RH

RH

$233.00

0.03 (0.01%)

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CRWD

Crowdstrike

$47.74

0.18 (0.38%)

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  • 12

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GLD

SPDR Gold Shares

$138.94

0.98 (0.71%)

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SPDR Gold Shares holdings rise to 886.22MT from 885.93MT »

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DIS

Disney

$147.70

1.58 (1.08%)

, GOOG

Alphabet

$1,345.14

0.64 (0.05%)

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GOOGL

Alphabet Class A

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AAPL

Apple

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T

AT&T

$38.17

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NFLX

Netflix

$299.25

6.04 (2.06%)

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DLHC

DLH Holdings

$4.58

0.525 (12.96%)

, FORM

FormFactor

$23.77

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DLHC

DLH Holdings

$4.58

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FORM

FormFactor

$23.77

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LULU

Lululemon

$233.31

3.75 (1.63%)

NX

Quanex

$19.72

0.68 (3.57%)

TLRD

Tailored Brands

$4.85

-0.42 (-7.97%)

NDSN

Nordson

$167.44

1.69 (1.02%)

MESA

Mesa Air

$9.25

0.17 (1.87%)

OXM

Oxford Industries

$74.07

-1.89 (-2.49%)

AKTS

Akoustis

$7.60

0.11 (1.47%)

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TTD

Trade Desk

$250.44

0.13 (0.05%)

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RACE

Ferrari

$165.20

0.37 (0.22%)

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RIBT

RiceBran

$2.09

-0.105 (-4.79%)

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Syndicate
RiceBran offers to sell common stock, no amount given »

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VMW

VMware

$151.00

2.27 (1.53%)

, TSLA

Tesla

$352.40

3.58 (1.03%)

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VMware's Poonen: Our networking business is on fire »

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VMW

VMware

$151.00

2.27 (1.53%)

TSLA

Tesla

$352.40

3.58 (1.03%)

DELL

Dell Technologies

$47.73

0.37 (0.78%)

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  • 11

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SMTC

Semtech

$47.36

0.48 (1.02%)

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Semtech director sells 19.3K shares of common stock »

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  • 07

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CS

Credit Suisse

$12.95

-0.115 (-0.88%)

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Former Credit Suisse JV exec claims she was put under surveillance, WSJ says »

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  • 11

    Dec

PANW

Palo Alto Networks

$226.76

1.71 (0.76%)

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Palo Alto Networks CEO: No systematic problem with our sales »

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  • 08

    Jan

PBYI

Puma Biotechnology

$8.71

0.24 (2.83%)

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Puma Biotechnology presents Phase II results of neratinib in breast cancer »

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GTHX

G1 Therapeutics

$23.06

-0.18 (-0.77%)

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G1 Therapeutics presents data from Phase 1b/2a trial of lerociclib at SABCS »

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NH

NantHealth

$0.86

-0.0225 (-2.54%)

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TWTR

Twitter

$30.56

0.71 (2.38%)

, AAPL

Apple

$270.71

2.09 (0.78%)

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TWTR

Twitter

$30.56

0.71 (2.38%)

AAPL

Apple

$270.71

2.09 (0.78%)

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  • 06

    Feb

GVA

Granite Construction

$26.29

0.97 (3.83%)

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MNRL

Brigham Minerals

$18.60

0.4 (2.20%)

17:45
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  • 12

    Dec

KHC

Kraft Heinz

$31.59

-0.29 (-0.91%)

17:39
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Kraft Heinz initiated at Deutsche Bank »

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K

Kellogg

$66.17

-0.48 (-0.72%)

17:37
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Kellogg initiated at Deutsche Bank »

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FCAU

Fiat Chrysler

$14.32

-0.085 (-0.59%)

17:34
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  • 07

    Jan

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