Another Major Shareholder Urges Tribune to Strike a Deal With Gannett

A second big-dollar investor in Tribune Publishing is calling on the newspaper company to cut a deal with Gannett, just two days after it rebuffed Gannett’s $864 million offer to buy the company.

In the letter sent to Tribune’s board Tuesday, Towle & Co, a St. Louis-based investment firm, said the owner of the Los Angeles Times, the Chicago Tribune and eight other major dailies has abandoned its “responsibility of maximizing shareholder value” by not accepting Gannett’s deal.

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