March 06, 2015 4:46 AM ET

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Company Overview of Digital First Media Inc.

Company Overview

Digital First Media Inc. provides management services to Journal Register Company and MediaNews Group. The company was founded in 2011 and is based in New York City, New York. Digital First Media Inc. operates as a subsidiary of Journal Register Company.

New York City, NY 

United States

Founded in 2011

Key Executives for Digital First Media Inc.

Chief Executive Officer
Age: 56
President and Chief Operating Officer
Age: 64
Chief Financial Officer, Chief Accounting Officer and Senior Vice President
Age: 47
President of Medianews Inc.
Age: 55
Executive Editor
Age: 63
Compensation as of Fiscal Year 2014.

Digital First Media Inc. Key Developments

Cerberus Capital Is Reported To Be In Talks To Acquire Digital First Media

Cerberus Capital Management, L.P. is in talks to acquire Digital First Media Inc. people with knowledge of the matter said. There may be other potential bidders, said two of the people, who asked not to be named because the discussions are private. Apollo Global Management, LLC (NYSE:APO) is also bidding for Digital First. A spokesman for Apollo declined to comment, Molly Morse, a spokeswoman for Digital First Media, declined to comment, as did John Dillard, a spokesman for Cerberus at Weber Shandwick, reported Bloomberg.

Digital First Media Considering Strategic Alternatives

Digital First Media Inc. has hired UBS Securities LLC to help it determine strategic alternatives for the Company’s business. "We believe we have many options available to us to maximize the value of our businesses for our stockholders and the board of directors has therefore decided to assess the full range of these opportunities," said Chief Executive Officer, John Paton. The company said it will not disclose developments in the process until the board decides how it will proceed. It could mean Digital First Media could be sold in whole, or in regional chunks or expanded or not sold at all.

Digital First Media Puts 51 Buildings Up For Sale

Digital First Media has put up for sale 51 of its newspaper buildings, including eight in Colorado, according to an announcement from real estate company Twenty Lake Holdings. The for-sale properties in Colorado are located on the Eastern Plains and include buildings housing Digital First newspapers in Akron, Brush, Burlington, Canon City, Fort Morgan, Julesberg, Lamar and Sterling. New York-based Digital First is also selling buildings in six other states, according to the release. In Colorado, properties on the market include offices of the Akron News Reporter, Fort Morgan Times, Brush News Tribune, Julesburg Advocate and Lamar Ledger, as well as flex space used by the Burlington Record, Canon City Daily Record, Longmont Times-Call and Sterling Journal Advocate. The properties for sale include 19 sites in California as well as facilities used by the St. Paul Pioneer Press and El Paso Times. "The strategy outlined by Twenty Lake Holdings and Praxis Commercial enables us to streamline our real estate portfolio through a comprehensive program encompassing property sales, new leasing, relocations and consolidation, thereby freeing the company from the constraints of being overburdened with underutilized properties," said Steve Rossi, President and Chief Operating Officer of Digital First Media. "With these listings, the companies have 70 newspaper buildings for sale with $85 million in combined value," said Joseph Miller of Twenty Lake Holdings.

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