Buzz: Offer on the table

Several media outlets are reporting the newspaper chain MNG Enterprises, also known as Digital First Media, has offered to buy Pensacola News Journal’s parent company, Gannett, for $12 per share in cash, or $1.36 billion.

Gannett’s share price rose more than 19 percent to $11.60 in trading today.

Gannett has not responded publicly to the offer.

MNG Enterprises is the publisher of the Denver Post and San Jose Mercury News.