Gannett Confirms Director Nominations From MNG Enterprises - Quick Facts

(RTTNews) - Gannett Co., Inc. (GCI) confirmed that MNG Enterprises, Inc. has notified the company of its intent to nominate six director candidates, all of whom are affiliated with MNG or its majority shareholder Alden Global Capital, to stand for election to the company's board at the 2019 Annual Meeting of Stockholders. Gannett said its shareholders do not need to take any action at this time.

"The board will consider whether MNG is nominating these candidates to support its acquisition proposal, which the board has already rejected, and whether MNG's proposed nominees are committed to acting in the best interests of all of Gannett's shareholders, or are beholden to MNG," the company said.

On February 4, 2019, Gannett announced that its board unanimously rejected MNG's unsolicited proposal, received on January 14, 2019, to acquire Gannett for $12.00 per share in cash.