Icahn Discloses New Stake in Gannett

By Rob CopelandDow Jones Newswires

Billionaire Carl Icahn disclosed a new stake in Gannett Co., the media company that said earlier this month it would spin off its publishing business.

Mr. Icahn said in filings late Thursday that he had made the investment, amounting to about 2.7 million shares, during the second quarter, prior to the spinoff announcement. He said he hadn't had any contact with the company, but planned to do so in the future because he supports the split.

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In other second quarter portfolio moves, Mr. Icahn trimmed his stake in Netflix Inc. and added to his position in Ebay Inc., which he quarreled with earlier this year over a proposed spinout of payments unit PayPal.

Notably, Mr. Icahn showed no change in his stake in Herbalife Ltd, the nutritional supplement maker that hedge-fund manager William Ackman has assailed as a pyramid scheme. Shares in Herbalife are down 33% this year; Mr. Icahn owned $1.1 billion of shares as of the end of the second quarter.

Herbalife has denied Mr. Ackman's charges.