The battle for ownership of Gannett is heating up. Last week, MNG Enterprises, also known as Digital First Media, announced that it has secured a letter from investment firm Oaktree Capital Group that states Digital First Media should be able to fund an acquisition for at least $1.725 billion. At this level of investment, Digital First Media could pay Gannett $12 per share, including any associated costs and the refinancing of MNG and Gannett debt.