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USA Tomorrow: In a story titled "Oaktree Capital Expresses Confidence in Digital First's Bid for Gannett," The Wall Street Journal's Cara Lombardo and Lukas I. Alpert report that,
Digital First Media took a step forward in its hostile bid for Gannett Co., with a debt specialist indicating Digital First could raise the funds needed to pay for the $1.4 billion takeover. Oaktree Capital Management LP, a credit-investment firm with $120 billion of assets as of December, told Digital First it is "highly confident" in Digital First's ability to attain a debt financing package of at least $1.725 billion in connection with the offer for the USA Today publisher, according to people familiar with the matter. Digital First, officially known as MNG Enterprises Inc., offered to buy Gannett in January for $12 a share.