Shareholder Sues Tribune Directors, Chairman Over Spurned Gannett Bid

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 steps to ward off the $15-a-share bid from Gannett, the largest U.S. newspaper publisher, Capital Structures Realty Advisors said in a complaint made public Thursday in Delaware Chancery Court. The lawsuit was filed on behalf of Tribune and its investors.The owner of the Los Angeles Times and Chicago Tribune rejected Gannett's second offer on May 23, calling it "clearly inadequate," even though it was 22% more than an earlier $12.25-a-share bid made public in April. Instead, the board adopted anti-takeover measures to wrongfully thwart Gannett's efforts, according to Capital Structures. Continue reading at AdAge.com Continue reading at 'Advertising Age'

[ Advertising Age | 2016-06-03 00:00:00 UTC ]

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[ Publishers Weekly | 2020-09-08 04:00:00 UTC ]
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[ Publishers Weekly | 2020-07-08 04:00:00 UTC ]
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Inside Minute Media’s Bold Ambitions as a Tech/Publishing Company

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[ Folio Magazine | 2020-06-18 16:54:52 UTC ]
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NBCC Names Temporary President, Will Delay Awards Deliberations

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[ Publishers Weekly | 2020-06-18 04:00:00 UTC ]
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[ The Guardian | 2020-05-28 03:36:58 UTC ]
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What marketers need to know about the publishing revolution: Hear from Vox, WSJ, NYT, Hearst, Essence, Condé Nast and more

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[ Advertising Age | 2019-10-25 16:35:00 UTC ]
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[ Advertising Age | 2019-10-22 14:50:00 UTC ]
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[ Advertising Age | 2019-10-18 16:17:19 UTC ]
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[ Folio Magazine | 2019-10-01 15:35:11 UTC ]
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[ Publishers Weekly | 2019-09-26 04:00:00 UTC ]
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[ Engadget | 2019-08-22 21:14:00 UTC ]
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[ The Bookseller | 2019-06-17 19:21:17 UTC ]
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[ The Guardian | 2019-06-13 01:22:23 UTC ]
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[ AdWeek | 2019-06-10 21:00:28 UTC ]
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[ Publishing Executive | 2019-05-23 17:10:11 UTC ]
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[ Baltimore Sun | 2019-03-29 00:00:00 UTC ]
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[ Advertising Age | 2019-02-20 00:00:00 UTC ]
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[ Publishing Perspectives | 2018-09-25 00:00:00 UTC ]
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