Xerox, which said early Monday morning it will buy Affiliated Computer Services for $6.4 billion, has had its eye on the IT services company for at least two years, but talks only began toward the end of the first quarter of 2009, several people familiar with the matter told Dealzone. Blackstone, which advised Xerox, worked with the company on this over the past 18 months, in addition to making the introductions earlier this year, according to one source.
The Washington Post is offering new buyouts to help the money-losing paper cut costs as it pursues a plan to become profitable again. You can read our story about it, along with an interview with Publisher Katharine Weymouth. Meanwhile, here are some excerpts from her memo to Post employees:
Suburban bureau reporters at The Sun in Baltimore, Maryland, are about to learn the true meaning of the word “mobile.” The Tribune Co-owned paper is shutting down the last of its three suburban bureaus and bringing their reporters back to the main newsroom in Baltimore proper, sources told MediaFile on Tuesday.
The largest U.S. newspaper publisher and owner of USA Today, the nation’s biggest-selling daily paper, is slashing payroll just in time for the holidays. We read about layoffs everywhere these days, but if you want to see the slow-motion car crash version of how Gannett is doing it, look to Gannett Blog, run by former company reporter Jim Hopkins.