After months of “will they” “won’t they” speculation attached to stories about Gannett’s pursuit of Tronc, Gannett has issued a final “won’t they.”
In a statement, Gannett said it “has determined not to pursue an acquisition of Tronc.” As a result of this news, Tronc’s shares have plummeted by 30 percent. Breaking up is hard to do.
Thus ends a saga that began way back in May, when Gannett made an unsolicited offer of $815 million for Tronc (then Tribune Publishing). Tronc
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