USA Today owner Gannett offers to buy Tribune in $815 million deal

April 25, 2016 5:37 PM

30 0

Gannett offered to buy Tribune Publishing, the owner of the Los Angeles Times and Chicago Tribune, on Monday in a deal that could reach $815 million and could transform the publishing business during a period of industry decline.

Gannett, the owner of USA Today, offered Tribune $12.25 a share in cash, a 63 percent premium to its stock closing price Friday. It would also assume some Tribune debt, bringing the potential deal value to $815 million.

Also read: Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars

Read more

To category page