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 ]
News tagged with: #media company #cash infusion #board members #taking steps

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[ Editor & Publisher | 2012-05-29 00:00:00 UTC ]
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Tax protest disrupts Amazon shareholders meeting

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[ The Bookseller | 2012-05-23 00:00:00 UTC ]
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US sues Apple over ebook 'price fixing'

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[ Stuff | 2012-04-12 00:00:00 UTC ]
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U.S. Sues Apple, Publishers Over E-Book Pricing

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[ AllThingsD | 2012-04-11 00:00:00 UTC ]
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Antitrust officials reportedly sue Apple, publishers over ebooks

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[ Los Angeles Times | 2012-04-11 00:00:00 UTC ]
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US Sues Apple and Publishers Over e-Book Prices

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[ Editor & Publisher | 2012-04-11 00:00:00 UTC ]
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Blackwell and Bertrams in bid for £1.25m uni deal

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[ The Bookseller | 2012-03-22 00:00:00 UTC ]
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Agate Publishing and Chicago Tribune Enter New Ebook Partnership

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[ Editor & Publisher | 2012-02-22 00:00:00 UTC ]
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