Albany-based telegraphs new owner says it’s “ready” to make $500m bid

WALGENNESVILLE, N.H. — The company that operates the New Hampshire-based New England Telegraphs said Wednesday it is preparing to make a $500 million bid to buy the company that owns the Telegraphs’ flagship newspaper, The Telegraph.

The bid, announced by the company’s president and chief executive officer, Peter Eichler, and released by its owner, New England Media Group, is aimed at buying the Telegraph’s parent company, New York Times Co., for about $1.6 billion.

New England Media and New England Networks Inc., which together operate the Telegraph, are expected to formally announce the deal Wednesday afternoon, according to the company.

The deal would allow the Telegraph to move to a new owner after a merger with another New England media group.

The company was spun off in 2014, when New England Networking purchased The Telegraph for $2.6 million.

The Telegraph is a regional daily newspaper in the northern half of New Hampshire, which includes Nashua and Manchester.

It’s also published in Connecticut, New Jersey and Massachusetts.

The company was founded in 1857 and is the largest newspaper in New England.

The Telegraph operates in nearly 70 communities across the state, including the cities of Manchester and Syracuse.

It is also the largest daily newspaper of the Atlantic Coast region, according the newspaper’s website.