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Shareholders sign media contract



  The Gannett headquarters in McLean, VA.

Shareholders cleared the way for the New Media Investment Group and today's US owner Gannett on Thursday to jointly sign a deal that will create the largest US media company in print distribution the largest online news audience nationwide.

In separate votes, shareholders of each company approved New Media's $ 1

.13 billion acquisition of Gannett. The companies can now proceed with the conclusion of the contract, which according to the executives will be completed by the end of the year.

The combined company is called Gannett and will have over 260 daily publications as well as hundreds of weekly magazines. The new company will reach an average monthly online audience of more than 145 million unique visitors, according to data computor Comscore.

The deal "gives us a much broader platform to build our digital business and help each one of them" Local markets are driving growth for us from a digital perspective, "said Paul Bascobert, CEO of Gannett, on Thursday at the shareholder meeting of the company on which the voting results were announced. "Our commitment to building these brands is even greater than ever."

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