WSJ : Gannett's Pursuit Of Gizmodo Gets Sidetracked By Surprise Takeover Offer

(RTTNews) - Gannett Inc. (GCI) has been pursuing a purchase of digital publisher Gizmodo Media Group, the wall Street journal reported, an effort that could be complicated by the takeover approach the USA Today owner received this week from a hedge fund-backed rival.

Gannett is one of a few serious bidders remaining in an auction of Gizmodo Media, the owner of assets including the eponymous technology website as well as Deadspin and Jezebel, the report said citing people familiar with the matter. Other parties that have expressed interest since Gizmodo Media was put up for sale by Univision Communications Inc. in July include Bryan Goldberg, owner of website Gawker.com, and an unnamed private-equity firm.

MNG Enterprises Inc., better known in the news industry as Digital First Media, sent a letter to Gannett on Monday revealing it had taken a 7.5% stake in the company and proposing to acquire it for $12 a share, or around $1.4 billion. It also urged Gannett to seek other bidders