3:44 am Journal Media to be acquired by Gannett (GCI) for $12 per share; immediately accretive to GCI earnings (JMG) :

Gannett Co (GCI) and Journal Media Group (JMG) announced that they have entered into a definitive merger agreement under which Gannett will acquire all of the outstanding common stock of Journal Media Group for approximately $280 million, net of acquired cash

Financial Highlights

• Adds approximately $450 million to Gannett's annual revenues.
• Adds approximately $60 million of adjusted EBITDA, including over $10 million of immediately available synergies.
• Opportunity for approximately $25 million of additional operating synergies to be fully realized over the next two years via the consolidation of corporate and administrative operations, integration with the Gannett shared service centers and consolidation of certain printing and distribution assets in multiple adjacent markets.
• Immediately EPS accretive: ~$0.10 - $0.15 per share in the first full year and $0.20 - $0.25 in the second year.
  
  

3:41 am Black Hills Corp raises its FY15 EPS guidance (BKH) :

• Co issues in-line guidance for FY15 (Dec), sees EPS of $2.90-3.10 vs. $2.94 Capital IQ Consensus Estimate and compared to the previously issued range of $2.80-3.00 per share