Digital First Media announced Tuesday the merger of its two largest companies Media News Group and 21st Century Media to create a new media company.
The two media companies have a combined $1.3 billion in revenue and have been jointly managed by Digital First Media in New York City. The merger, which has been in the works for more than a year, is expected to be complete within 30 days.
"It will be easier to push innovation," said John Paton, CEO for DFM. "Essentially it creates an enormous amount of efficiency within the company."