Gannett CEO Michael Reed, preparing to launch a new round of layoffs after the nation’s largest newspaper chain lost $54 million during the second quarter of this year, has increased his personal stake in the company.
Reed spent $1.22 million to buy 500,000 shares Gannett stock on Monday, raising his own holdings in the struggling media empire to 1,826,335 shares, according to filings with the Securities and Exchange Commission.
Comments
No comments on this item Please log in to comment by clicking here