Gannett

Proxy Advisory Firm Urges Tribune Shareholders to Oppose Gannett Deal

Tribune Publishing Co. has again rejected revised Gannett Co., Inc. proposal to acquire all of Tribune Publishing for US$15.00 per share in cash.The company received a US$70.5 million investment from Nant Capital in a deal that makes the California-based technology investment firm the company’s second-largest shareholder, edging past the 4.695 million shares owned by Oaktree Capital Management.

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Tribune Rejects Gannett’s Offer, Adopts “Poison Pill”

Tribune Publishing board of directed rejected USA Today owner Gannett’s US$815 million offer to acquire the company. Tribune Publisher, owner of Los Angeles Times, Chicago Tribune and nine other daily newspapers, said Gannett’s “opportunistic” proposal understates the company’s true value and is not in the best interests of its shareholders.

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Gannett folds USA Weekend Magazine

Gannett is folding its USA Weekend edition. The December 28 edition will be its last. Larry Kramer, president and publisher of USA Today wrote in a memo to Gannett employees on Friday.

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