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Gannett is Said to be THISCLOSE to Announcing a Deal to Buy Tronc, The Newspaper Company Formerly Known as Tribune Publishing

Late this evening Ken Doctor over as Politico broke news that newspaper giant Gannett which has been in hot pursuit of Tronc, the company that publishes newspapers like the LA Times and The Chicago Tribune has reached a deal to acquire the company. Gannett, the second largest newspaper publisher in the country has been eyeing the company before it became Tronc. But Tronc Chairman Michael Ferro refused a premium offer from the company pushing Gannett to pull back and watch. In the meantime Gannett has been buying up any newspaper willing to sell. With a deal possibly being announced soon, Gannett never really pulled back too far from Tronc.
The announcement of a deal could come as soon as business opens on the fourth quarter of the year, as early as Monday morning.Tronc’s board of directors held a meeting Thursday, sources said, that was likely focused on the sale. Attorneys, they said, were at work on documents at the end of last week. Of course, given the many twists and turns in this process so far, further delays are certainly possible.



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Gannett is Said to be THISCLOSE to Announcing a Deal to Buy Tronc, The Newspaper Company Formerly Known as Tribune Publishing Reviewed by Editor on Sunday, October 02, 2016 Rating: 5
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