Tribune board rejects Gannett's bid

The Tribune Publishing Board of Directors voted unanimously to reject Gannett Co. Inc.'s $815 million offer.

Gannett, the owner of USA Today and 107 local news properties, on April 25 made an unsolicited offer for the operator of the Los Angeles Times, Chicago Tribune and nine other daily newspapers.

The offer was made privately on April 12 but Gannett CEO Robert Dickey chose to go public with the bid due to Tribune's "continued refusal to begin constructive discussions with us."

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