USA Today Publisher Gannett Co. Gives Up On Buying Tronc

By MarketsMarketWatch Pulse

Gannett Co. Inc. shares rose 6% in premarket trading Tuesday after the USA Today publisher said it has given up its effort to acquire the publisher of the Chicago Tribune and the Los Angeles Times, which changed its name to Tronc Inc. from Tribune Publishing in June. Tronc shares tumbled 29% on the news. The Gannett decision comes after months of bid speculation and acquisition talks.

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