Gannett offers $815 million to buy Tribune Publishing

April 25, 2016 11:36 AM

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Gannett offers $815 million to buy Tribune Publishing

Gannett Co. (GCI), which owns USA TODAY and more than 100 other media properties across the country, said Monday it offered to buy Tribune Publishing (TPUB) for about $815 million, its second big expansion move since spinning off from its former parent less than a year ago.

In a letter to Justin Dearborn, CEO of Tribune, which owns the Los Angeles Times, Chicago Tribune and nine other dailies, Gannett CEO Robert Dickey reiterated Monday a private April 12 offer to pay $12.25 per share, a 63% premium to Tribune’s closing stock price last Friday. Gannett’s deal includes ...

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