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$12M Digital First Media Bid Wins Boston Herald Auction

Law360 (February 14, 2018, 12:49 PM EST) -- A nearly $12 million bid by a division of hedge fund-owned Digital First Media has tentatively won a Delaware Chapter 11 auction for the Boston Herald, the bankrupt newspaper announced early Wednesday.

  The Boston Herald said in an announcement Wednesday that the sale "achieves [the publisher's] goal of keeping Boston a two-newspaper city." (AP)

Digital’s MediaNews Group, part of a media chain owned by Alden Global Capital, beat out GateHouse Media and Revolution Capital after a five-hour series of bids held Tuesday in Boston.

Although full details of the offer have yet to be released, Digital’s $11.98 million bid more...

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