July 10, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Gannett Offering To Buy Tribune Publishing

Martinez wrote for the Los Angeles Times for 25 years. (Thinkstock)
(Thinkstock)

Gannett is offering to buy Tribune Publishing, publisher of the Los Angeles Times, the Chicago Tribune and other newspapers, for $815 million, including the assumption of $390 million in debt, it was reported today.

Gannett says the all-cash offer, which translates to $12.25 a share, represents a 63 percent premium over Friday’s $7.52 a share closing price, as well as a premium over the $8.50 share price at which Tribune recently issued common shares, the Chicago Tribune reported.

Gannett said in a news release that the all-cash value of the transaction meant it could be completed quickly, and in a letter addressed to Tribune Publishing Chief Executive Justin Dearborn said it was “disappointed by the response” in a Friday letter from Dearborn regarding Gannett’s proposal.

Gannett noted that it first made overtures to Tribune Publishing’s board on April 12 and followed up several times in phone calls to Chairman Michael Ferro.

“We believe the financial and strategic logic of a combination of our two companies is clear,” Gannett said today in a letter to Dearborn from Robert Dickey, its president and CEO.

“The challenges for our industry in the digital age continue. Tribune has itself faced numerous challenges and leadership changes over the last few years. We believe Gannett is uniquely willing and able to propel Tribune into the position of strength that will allow its beloved and historic publications and other assets to survive and thrive in this challenging environment. By combining, we would create a company with the financial stability and flexibility equipped to preserve journalistic integrity, high standards and excellence for years to come. We would be able to both empower our journalists and facilitate the creation of exceptional content while delivering stockholder value.”

In an email to Tribune Publishing employees this morning, Dearborn said the company did not seek or encourage Gannett’s proposal and has not been trying to sell, the Tribune article reported.

Tags: in News
Related Posts

Father-Daughter Authors to Host Book Signing to Aid Fire-Affected Women

July 10, 2025

July 10, 2025

Ten percent of proceeds from book and art sales will benefit the Pacific Palisades Rebuilding Fund, a nonprofit initiative created...

Culver City Police Locate Missing 75-Year-Old Woman

July 9, 2025

July 9, 2025

The Department expressed gratitude to the community, media, and law enforcement partners for their assistance The Culver City Police Department...

Metro Reports Crime Drop, Higher Rider Satisfaction, and Progress on Major Projects

July 9, 2025

July 9, 2025

The Authority said the drop in violent incidents—down to the lowest level since May 2019—coincided with more uniformed personnel and...

Pandemic Fraud Crackdown: Inglewood Woman Accused of Using Stolen IDs in $1.3M Scam

July 8, 2025

July 8, 2025

Authorities Say Fake Claims Used Names of Prisoners and Out-of-State Residents Selena Stewart was arrested and arraigned Wednesday on a...

Unmasking ICE: Senators Push for Visible IDs After Secretive LA Immigration Raids

July 8, 2025

July 8, 2025

Bill Requires Federal Agents to Display Visible Identification During Raids U.S. Senators Alex Padilla (D-Calif.) and Cory Booker (D-N.J.) on...

Bacio di Latte’s Beverly Hills Gelateria Debut Blends Italian Tradition with California Cool

July 8, 2025

July 8, 2025

Gelateria Features In-House Gelato, Espresso Drinks, and Decadent Signature Flavors Bacio di Latte has officially opened its latest U.S. flagship...

Housing for Health Chief Appointed to Lead Unified Homeless Services Department

July 8, 2025

July 8, 2025

Veteran Housing Advocate to Oversee Streamlined LA County Services The Los Angeles County Board of Supervisors on Tuesday confirmed the...

Brentwood Feels Impact as Feds Slash Office Leases Across Los Angeles

July 8, 2025

July 8, 2025

New Tracker Reveals Over 70,000 Square Feet Cut in 2025 Alone Los Angeles County’s office market is experiencing a fresh...

One Last Bite: La Novia Bids Farewell with Final Pop-Up at Cardinale du Vin

July 8, 2025

July 8, 2025

Inventive Latin-Asian Pop-up Serves Seasonal Small Plates for One-Night-Only La Novia, the pop-up kitchen known for its inventive Latin-Asian flavors,...

Shore Hotel: A Local Destination for Summer Fun

July 8, 2025

July 8, 2025

Bring on all things summer. Walking or biking along Santa Monica Pier, you might find yourself taking a pause at...

Governor Newsom Unveils Fast-Track Rebuilding Plan on Six-Month Anniversary of Palisades Fire

July 7, 2025

July 7, 2025

State Clears Over 5.5 Billion Pounds of Debris From Fires Ahead of Schedule Marking six months since the devastating Eaton...

Soprano Golda Zahra Returns to BroadStage For a One-Night-Only Musical Celebration

July 7, 2025

July 7, 2025

Hailed as “the rising star of the opera world” by The Hollywood Times, internationally acclaimed soprano Golda Zahra makes her much-anticipated return to BroadStage in...

 CicLAvia to Transform Westside Streets for Car-Free Day in August

July 7, 2025

July 7, 2025

Culver City, Mar Vista, and Venice to Host Open Streets Event  CicLAvia will return to the Westside this summer with...

Culver City Considers Expanding Immigrant Protections, Eyes Police Surveillance Reforms

July 7, 2025

July 7, 2025

Council Advances Proposals to Limit License Plate Readers, Use of ALPR During a special meeting on June 30, the City...

Transform Your Life: The Free Virtual ONENESS GLOBAL SUMMIT Debuts July 18-20, 2025

July 7, 2025

July 7, 2025

The ONENESS GLOBAL SUMMIT, a transformative three-day virtual event, is coming, July 18-20, 2025, offering participants worldwide a free opportunity...