Gannett is walking away from its attempted takeover of Tronc, the publisher of the Los Angeles Times, Chicago Tribune and other major dailies.Tronc maintained that it still had “serious doubts” about Gannett’s ability to finance a potential transaction.
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.
Industry observers asked by Portada note that it is only a matter of time until the Los Angeles Times, owned by Tribune Publishing, buys financially troubled Freedom Communications or, at least, its most coveted asset the Orange County Register. Why is Tribune Publishing interested in Freedom’s assets and what would a consolidation mean particularly to Hispanic media?. 4 key questions we look at.
What: Tribune Publishing has launched an in-house agency called Tribune Content Solutions that will create multiplatform campaigns for local and national advertisers.Dan Hickey Takes on Expanded
The US $85 million Tribune is spending amount to a relatively high valuation for print properties, reflecting the value of the Southern California print and digital franchise. While smaller than the English-language publications of the Union Tribune, Tribune is also adding the Spanish-language weekly Enlace as well as s a weekly Spanish language lifestyle and entertainment magazine, Vida Latina San Diego. Tribune Publishing now owns a substantial portfolio of Southern Californian properties targeting the Hispanic Population.