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Axios receives $5M in PPP funding
Arlington-based digital media company Axios Media Inc. announced Wednesday it received nearly $5 million in funding from the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), the $349 federal relief fund that ran out of funding on April 16 after 13 days due to overwhelming demand from small businesses hurt by the COVID-19 crisis. “This […]
Gannett taking steps to preserve liquidity
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, is negotiating with its vendors, creditors and pension regulators in order to preserve the company’s liquidity, according to a statement from the company released Wednesday. Gannett, which owns USA Today, has seen swift drops in advertising due to the financial fallout from the COVID-19 pandemic. It […]
Gannett announces mass layoffs, pay cuts, furloughs
McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, sent an email to employees Monday announcing mass layoffs, furloughs and pay cuts, according to The Daily Beast. Like other media outlets, the company has reportedly a large drop in advertising revenues recently due to the financial crisis caused by the COVID-19 pandemic. Gannett has a […]
Tegna acquisition talks fall through
As the financial fallout from the COVID-19 pandemic escalates, Tysons-based Tegna announced that two offers to acquire the Gannett spinoff company have fallen through. “TEGNA and its advisors engaged substantially with two of these parties and provided them extensive non-public due diligence information,” the company wrote in a statement over the weekend. “These two parties […]
Tegna receives new acquisition offer
Now the subject of a bidding war, Tysons-based broadcast and digital media company Tegna Inc. has received a new acquisition offer from investment firm The Najafi Cos. and religious broadcaster Trinity Broadcasting Network (TBN) that values the company at $20 per share cash, the companies announced Thursday. Tegna was once part of McLean-based mass media […]
BH Media sells publications, including 10 Va. newspapers
Berkshire Hathaway Inc. is selling its BH Media Group publications portfolio, which includes the Richmond Times-Dispatch and nine other Virginia newspapers, to Lee Enterprises Inc., which has been managing the newspapers since July 2018, Lee announced Wednesday. The Virginia papers included in the sale are the Richmond Times-Dispatch, The Roanoke Times, The Daily Progress in […]
