Latest in Gannett

Gannett is pushing back against efforts by Digital First Media to infiltrate its board of directors in the latest round of the media companies’ proxy fight. A takeover bid by Digital First, whose official corporate name is MNG Enterprises, was rejected by Gannett last week a followup to an initial hostile offer last…

Digital First Media, a hedge fund-backed entity known for scooping up local newspapers and then aggressively cutting costs and jobs, has made an unsolicited $1.36 billion offer for Gannett. Shares in Gannett have soared 18% on the news, reaching $11.50 in morning trading. The management of Gannett indicated it will…

Investors drove shares of Tronc down more than 18% this morning after Gannett said that it “has determined not to pursue an acquisition” of the publishing company whose properties include the Los Angeles Times, Chicago Tribune, Baltimore Sun, and Hartford Courant. Gannett, which publishes USA Today, is eager to…

Shares in Los Angeles Times publisher Tronc are up more than 7% this morning — and touched a 52-week high of $17.53 — following a report that Gannett has sweetened its acquisition offer to more than $18. That means it’s “no longer a question of whether to sell or not, but for how much,” analyst Ken Doctor says in…

Shares in Tronc — the company formerly known as Tribune Publishing — are up more than 2% this morning following a Wall Street Journal report that Gannett has sweetened its previous $15 a share offer. The owner of the Los Angeles Times — and other major publications including the Chicago Tribune, Baltimore Sun, and Hart…

The stock price for Los Angeles Times parent Tribune Publishing is up 1.5% to about $13.20 in pre-market trading this morning after Gannett said that it will keep its $864 million buyout offer in place. The $15 a share bid will stand as the USA Today owner “evaluates various near-term developments, including the…

Just how bad was the decision by Los Angeles Times parent Tribune Publishing to rebrand itself Tronc — short for “Tribune online content”? (It uses a lower case “t,” but we capitalize proper nouns.) The initial consensus: Pretty bad. Twitter users widely and roundly mocked the clunky, pretentious, and just plain…

Updated with Gannett response, 12:45 PM: Looks like Tribune Publishing just narrowly avoided a potentially embarrassing vote by unaffiliated shareholders to symbolically support sale talks with Gannett. Although the official tally from today’s annual meeting still isn’t out, Gannett figures that 49% of those not tied…

Here’s the latest blow to Gannett’s $864 million offer to buy Tribune Publishing: Two of the leading investor advisory firms — Glass, Lewis & Co., and Institutional Shareholder Services (ISS) — urge Tribune investors to reject a protest effort that the owner of USA Today has proposed for next week’s annual…

UPDATE with Gannett’s response: For the second time, Los Angeles Times owner Tribune Publishing Company has rejected Gannett Company's $15-per-share takeover bid. The door isn’t closed, however. Tribune, which also owns the Chicago Tribune and the Baltimore Sun, said Monday that it was open to further discussion. In a…

Seems that Tribune Publishing Chairman Michael Ferro wants to turn the tables on Gannett by making an offer to buy the owner of USA Today, respected industry watcher Ken Doctor writes today in PoliticoMedia. Ferro reportedly told five dozen Los Angeles Times sales employees on Tuesday that “I have lawyers working on…

Updated with Tribune Publishing response: Gannett apparently still believes that Tribune Publishing’s shareholders can pressure it to make a deal — even after the company adopted a poison pill takeover defense. The owner of USA Today this morning raised its offer for the owner of the Los Angeles Times by 22.5% to $15…