Home > Boards > US Listed > Media - Newspapers/Print > Gannett Co Inc. (GCI)

GCI @ 11.55 > news: Update: Gannett's Stock

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
crudeoil24 Member Profile
Member Level 
Followed By 515
Posts 34,681
Boards Moderated 4
Alias Born 12/12/04
160x600 placeholder
USA TODAY NETWORK Celebrates 50th Anniversary of Apollo 11 Moon Landing With Augmented Reality Business Wire - 6/20/2019 8:30:00 AM
Annual Report of Employee Stock Plans (11-k) Edgar (US Regulatory) - 6/14/2019 12:44:17 PM
USA TODAY NETWORK and the Gannett Foundation Announce 2019 National Grant Recipients for “A Community Thrives” Business Wire - 6/11/2019 11:20:00 AM
Amended Statement of Beneficial Ownership (sc 13d/a) Edgar (US Regulatory) - 5/22/2019 5:22:10 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 5/21/2019 4:36:46 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:45:43 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:44:47 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:43:52 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:42:32 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:41:41 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:40:33 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:39:47 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 5/20/2019 7:39:17 PM
Gannett Shareholders Elect All Eight Gannett Directors at 2019 Annual Meeting Based on Preliminary Results Business Wire - 5/16/2019 9:16:00 AM
MNG Enterprises Comments on Initial Voting Results of Gannett Annual Meeting Business Wire - 5/16/2019 8:59:00 AM
Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 5/14/2019 5:07:43 PM
Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a) Edgar (US Regulatory) - 5/14/2019 5:06:17 PM
MNG Sends Open Letter to Gannett Shareholders Business Wire - 5/14/2019 10:12:00 AM
Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 5/13/2019 5:10:43 PM
Gannett Reminds Shareholders to Vote “FOR ALL” of Its Eight Nominees on The WHITE Proxy Card Ahead of the Upcoming May 16... Business Wire - 5/13/2019 8:00:00 AM
Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 5/13/2019 6:09:09 AM
Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a) Edgar (US Regulatory) - 5/10/2019 5:27:18 PM
Additional Proxy Soliciting Materials (definitive) (defa14a) Edgar (US Regulatory) - 5/10/2019 5:14:12 PM
MNG Urges Gannett Shareholders to Vote for Change Business Wire - 5/9/2019 6:05:00 PM
Additional Proxy Soliciting Materials - Non-management (definitive) (dfan14a) Edgar (US Regulatory) - 5/9/2019 5:20:37 PM
crudeoil24 Member Level  Monday, 01/14/19 09:27:48 AM
Re: None
Post # of 382 
GCI @ 11.55 > news: Update: Gannett's Stock Soars After MNG's Unsolicited Buyout Bid, Valuing The USA Today Publisher At $1.4 Billion -- MarketWatch
8:47 am ET January 14, 2019 (MarketWatch)
Share
Print
Shares of Gannett Co. Inc. (GCI) rocketed 20% toward an 8-month high in premarket trade Monday, after the media company and publisher of the USA Today newspaper received a buyout bid from hedge fund MNG Enterprises that would value Gannett at about $1.4 billion. MNG said it has sent a letter to Gannett proposing paying $12 in cash for each Gannett share outstanding, which represents a 23% premium to Friday's closing price of $9.75. The proposal confirms The Wall Street Journal's report (http://www.marketwatch.com/story/digital-first-media-eyes-buyout-of-usa-today-publisher-gannett-2019-01-13) from Sunday. "In the letter, MNG notes that the team leading Gannett has not demonstrated that it is capable of effectively running it as a public company, with the stock having lost 41% of its value since its debut as a public company two and a half years ago," MNG said in a statement. MNG, which has a 7.5% ownership stake in Gannett, said it operates over 200 publications including The Denver Post, The San Jose Mercury News and The Boston Herald. Gannett's stock has gained 2.3% over the past three months, but has shed 17.7% over the past 12 months. In comparison, the S&P 500 has lost 6.2% over the past three months and has shed 6.8% the past year.

-Tomi Kilgore

For more from MarketWatch: http://www.marketwatch.com/newsviewer

(END) Dow Jones Newswires

January 14, 2019 08:47 ET (13:47 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

New York Yankees and Duke Basketball
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist