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Gannett Co.

Tribune adopts shareholder rights plan to fend off Gannett

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Fending off an unsolicited takeover by the owner of USA Today, Chicago’s Tribune Publishing has adopted shareholder rights plan, a so-called “poison pill.” Gannett offered to buy Tribune Publishing last month for $815 million. Tribune rejected the offer last week, saying the price was too low. The company owns the Los Angeles Times, Chicago Tribune and a number of other newspapers. The plan announced Monday allows existing shareholders to buy preferred stock if a person or group acquires at least…

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Gannett Co. acquires Midwest, South newspapers for $280M

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Gannett Co. has reached an agreement to acquire newspaper company Journal Media Group for $280 million, giving the media giant control of publications in more than 100 local markets in the U.S., company officials announced Wednesday evening. Journal Media publications dot the Midwest and South and include the Milwaukee Journal-Sentinel, Memphis (Tennessee) Commercial-Appeal and Knoxville (Tennessee) News Sentinel. Industry experts say the publications are a natural fit for Gannett’s strategy of maximizing short-term profits through managing the decline of publications…

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