Tribune Publishing has rejected the $800 million offer from Gannett and announced expansion plans.
Tribune says the offer from Gannett last week under values the Tribune chain. Gannett says it has the cash to make the deal and is open to further negotiation – or it would seem – paying a higher price to get the deal done.
Just as Tribune was rejecting the Gannett offer it also announced expansion plans to open bureaus in several world “entertainment” cities and offer a new international product under the Los Angeles Times brand.
Tribune owns the Hartford Courant which happens to be the nation’s oldest continually published newspaper. We believe this is not the end of this story so…
Developing…
