Tribune Publishing, infused with a $70.5 million investment from billionaire Patrick Soon-Shiong, rejected Gannett's latest takeover offer, escalating the battle between the newspaper publishers.Gannett's revised proposal is "clearly inadequate" to control the owner of the Los Angeles Times and the Chicago Tribune, Chief Executive Officer Justin Dearborn said in a statement Monday. The $15-a-share proposal from the publisher of USA Today was 22% more than its original bid of $12.25 offered publicly on April 25. Tribune sank in New York trading.In rebuffing Gannett a second time, Tribune is issuing 4.7 million common shares to Soon-Shiong's Nant Capital at $15 apiece, according to a separate statement Monday. Following the deal, Soon-Shiong will become vice chairman on the board and Nant Capital will have a 12.9% stake, making it Tribune's second-largest shareholder. That would put it ahead of Oaktree Capital Management, which called last week for a board committee free of top shareholder Michael Ferro's influence to consider Gannett's offer. The moves are the most aggressive yet by Ferro to fend off Gannett. Continue reading at AdAge.com Continue reading at 'Advertising Age'
[ Advertising Age | 2016-05-24 00:00:00 UTC ]
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Tribune Publishing, infused with a $70.5 million investment from billionaire Patrick Soon-Shiong, rejected Gannett's latest takeover offer, escalating the battle between the newspaper publishers.Gannett's revised proposal is "clearly inadequate" to control the owner of the Los Angeles Times and... Continue reading at Advertising Age
[ Advertising Age | 2016-05-24 00:00:00 UTC ]
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The newspaper publisher’s board said the $1.3 billion offer “is not in the best interests of Gannett and its shareholders.” But the fight for control is likely to go on. Continue reading at The New York Times
[ The New York Times | 2019-02-05 00:00:00 UTC ]
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A Tribune Publishing investor sued the media company's directors and Chairman Michael Ferro for spurning an $864 million buyout offer from Gannett and seeking a cash infusion from a billionaire health-care entrepreneur.Tribune's board members are seeking to unfairly entrench themselves by taking... Continue reading at Advertising Age
[ Advertising Age | 2016-06-03 00:00:00 UTC ]
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Richard Hurowitz's reported bid for Simon & Schuster is said to be backed by the Abu Dhabi sovereign wealth manager Mabudala. The post Report: Abu Dhabi’s Mubadala Backs the Hurowitz S&S Bid appeared first on Publishing Perspectives. Continue reading at Publishing Perspectives
[ Publishing Perspectives | 2023-06-22 17:01:36 UTC ]
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Lee Enterprises' effort to repel a hostile takeover got a boost this week when a judge ruled the newspaper publisher could ignore two director nominations from the Alden Global Capital hedge fund Continue reading at ABC News
[ ABC News | 2022-02-15 18:29:26 UTC ]
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Alden Global Capital hedge fund, owner of the Chicago Tribune, stepped up its attempts to buy Lee Enterprises this week, filing a lawsuit that accuses its board of denying shareholders of the newspaper publisher a voice in the matter. Continue reading at Baltimore Sun
[ Baltimore Sun | 2021-12-16 17:02:32 UTC ]
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Nearly a week after Lee Enterprises rejected Alden Global Capital’s attempt to buy the newspaper publisher, the hedge fund responded Wednesday with a lawsuit accusing Lee’s board of improperly denying shareholders the chance to have a say on the offer Continue reading at ABC News
[ ABC News | 2021-12-15 23:34:05 UTC ]
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Newspaper publisher Lee Enterprises has rejected a takeover offer from the Alden Global Capital hedge fund that is one of the largest newspaper owners in the country with a reputation for intense cost cuts and layoffs Continue reading at ABC News
[ ABC News | 2021-12-09 21:37:15 UTC ]
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The board of Lee Enterprises voted 8-0 against an unsolicited offer by the hedge fund that valued the newspaper chain at $141 million. Continue reading at The New York Times
[ The New York Times | 2021-12-09 20:44:02 UTC ]
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Newspaper publisher Lee Enterprises has rejected a takeover offer from the Alden Global Capital hedge fund that is one of the largest newspaper owners in the country with a reputation for intense cost cuts. Continue reading at Baltimore Sun
[ Baltimore Sun | 2021-12-09 19:38:26 UTC ]
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In Cruz Smith’s ninth Arkady Renko novel, 'The Siberian Dilemma,' the investigator travels into the frozen depths of Siberia. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-09-20 04:00:00 UTC ]
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The European Court of Justice (ECJ) will hear a landmark privacy case regarding the transfer of EU citizens’ data to Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-05-31 19:45:54 UTC ]
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Unsolicited buyout bid puts 23% premium on shares of newspaper publisher Gannett Continue reading at MarketWatch.com
[ MarketWatch.com | 2019-01-14 00:00:00 UTC ]
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Investment firm Donerail Group and newspaper publishers McClatchy Co. and AIM Media have submitted bids for Tribune Publishing Co., according to people familiar with the matter. Tribune’s board is scheduled to meet early next week after bids for the assets came due Thursday, said the people, who... Continue reading at Los Angeles Times
[ Los Angeles Times | 2018-11-03 00:00:00 UTC ]
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Over two years after a much-ridiculed branding change, Tronc, owner of the New York Daily News and other publications, is changing its name back to Tribune Publishing on Oct. 9. [] "> To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2018-10-05 00:00:00 UTC ]
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Earlier talks this year between Time Inc., the publisher of People and Sports Illustrated, and the Meredith Corporation fizzled out. Continue reading at The New York Times
[ The New York Times | 2017-11-16 00:00:00 UTC ]
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Jeff Kinney wears his pants properly now, not with the waistband high, up near his belly button. Continue reading at Stuff
[ Stuff | 2016-11-04 00:00:00 UTC ]
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Newspaper publisher Tronc plunges after Gannett abandons deal talks; Archer Daniels Midland, Coach gain on earnings beat Continue reading at ABC News
[ ABC News | 2016-11-02 00:00:00 UTC ]
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The courtyard of the Tribune Tower, home of The Chicago Tribune. Gannett has made an offer worth $864 million to acquire the paper’s owner, the Tribune Publishing Company, which has rejected the bid. Continue reading at The New York Times
[ The New York Times | 2016-06-08 00:00:00 UTC ]
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Thiel acknowledged that he secretly bankrolled lawsuits against the gossip-tinged company and its journalists in order to put the publisher out of businessIt may be a post-ink age, but a Silicon Valley billionaire’s legal campaign against Gawker Media is about to offer a modern test of the old... Continue reading at The Guardian
[ The Guardian | 2016-05-27 00:00:00 UTC ]
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