Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Friday, September 20, 2019  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Night 55° Partly Cloudy
News >  Business

Gannett urges Tribune holders to reject nominees for board

Associated Press

Five days after boosting its unsolicited takeover bid for Tribune Publishing Co. by 22 percent, USA Today owner Gannett is urging Tribune shareholders to reject the company’s slate of nominees to sit on its board.

In a letter Friday to Tribune shareholders, Gannett Co. said Tribune’s board “is disregarding your interests by preventing you from realizing superior and certain cash value for your shares.” It asks the shareholders to withhold their votes for Tribune’s eight director nominees on proxy cards mailed in advance of Tribune’s annual meeting on June 2.

Gannett on Monday raised its bid to $15 per Tribune share from $12.25 offered earlier for the owner of the Los Angeles Times, Chicago Tribune and other newspapers, after Tribune adopted a “poison pill” plan to thwart the offer.

Subscribe to the Morning Review newsletter

Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter.

You have been successfully subscribed!
There was a problem subscribing you to the newsletter. Double check your email and try again, or email