This wedding is not to be done, at least for now. Tribune Publishing, publishing group that controls the Los Angeles Times and Chicago Tribune, he refused theHostile takeover launched by Gannett, the group that controls the newspaper USA Today.
Gannett's offer, which was $12,25 a share or 815 million dollars debt included, with a premium of 63% compared to the stock exchange closing of the Tribune stock on April 22, was unanimously rejected by the Tribune board of directors: "The Board believes that the price reflected in the proposal underestimates the true value of the company and is not in the best interests of our shareholders,” reads a note.
The ball, therefore, returns to Gannett's field, who can give up the attempt to expand his portfolio of newspapers or relaunch: "This announcement - commented the editorial group - confirms our initial concern that the Tribune board never wanted deal with us, requesting that we make our proposal public”.
"It is unfortunate - concludes the editor of USA Today - that the Tribune board denies its shareholders this immediate and convincing cash value by rejecting our offer without making a counteroffer or otherwise negotiating or providing constructive feedback".
