Tribune Publishing Rejects Gannett’s Bid

Tribune Publishing, which owns the Los Angeles Times, Chicago Tribune and nine other daily newspapers, said Wednesday its board of directors has rejected Gannett’s $815 million offer to buy the company.

“Tribune Publishing’s board has unanimously determined that Gannett’s opportunistic proposal understates the company’s true value and is not in the best interests of its shareholders,” Tribune said in a statement.

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2 thoughts on “Tribune Publishing Rejects Gannett’s Bid

  • May 5, 2016 at 9:20 am
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    Gannett would be far better off spending their investment dollars in any other growth industry outside of the media industry.

    Reply
  • May 5, 2016 at 9:39 am
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    What industry might that be? Retail-love those 3% cash flow margins. Oil and Gas?
    Pharma–invest $200 million, wait 10 years and pray the drug makes it through the trials. Banking-negative interest rates equal no profits. Industrials–China and India can make it cheaper. Those 10%+ newspaper profit margins are starting to look pretty darn good. And guess what, the other digital ads-they aren’t working.

    Reply

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