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Telegram parent being outbid for Boston Herald

A Los Angeles-based investment group has filed a $5.75 million bid to purchase the Boston Herald newspaper in an attempt to outbid GateHouse Media’s $5 million offer.
Revolution Capital’s bid tops GateHouse’s initial offer with a $3 million cash pledge, $2 million in severance for employees and $750,000 in accrued paid time off for employees who are offered jobs after the sale, the Herald announced Tuesday.

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