Print giant Gannett has made another move toward digital, buying ReachLocal for $156 million in cash. Under the deal, Gannett will acquire the outstanding shares of the Woodland Hills company for $4.60 each — a 188 percent premium on the stock’s closing price on Friday, June 24. ReachLocal (NASDAQ: RLOC) shares surged today by as much as 170 percent to $4.57 with the news. Founded in 2004, ReachLocal provides online marketing solutions for small and medium-sized businesses.
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