Gannett Urges Tribune Stockholders To Withhold Votes At Annual Meeting

(RTTNews) - Gannett Co., Inc. (GCI) said it has urged Tribune Publishing Co.'s (TPUB) stockholders to "withhold" their votes in connection with the election of directors at the Tribune 2016 annual meeting of stockholders to be held on June 2, 2016.

Gannett said it is encouraging Tribune stockholders to deliver a mandate to the Tribune Board that it should engage constructively with Gannett regarding its $15.00 per share all-cash premium offer to acquire Tribune.

Gannett will review whether to proceed with its acquisition offer taking into account the results of the "withhold" vote at Tribune's 2016 Annual Meeting and the latest Tribune actions, including its response to Gannett's $15.00 per share offer.

Gannett's revised $15.00 all-cash offer represents a 99 percent premium to the $7.52 closing price of Tribune's common stock on April 22, 2016, the last trading day before Gannett publicly announced its initial offer for Tribune.

Gannett has urged Tribune stockholders to vote the Gold proxy card to "Withhold" votes from the election of all eight Tribune directors: Carol Crenshaw, Justin Dearborn, David Dibble, Michael Ferro, Jr., Philip Franklin, Eddy Hartenstein, Richard Reck and Donald Tang.