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Report: Gannett on sidelines of Tronc bidding

Apr. 18, 2018 9:58 AM ETGannett Co., Inc. (GCI) StockGCI, SFTBF, APO, SFTBY, TPCOBy: Jason Aycock, SA News Editor2 Comments
  • Gannett (GCI +0.7%) is sitting on the sidelines of bidding for Tronc (TRNC -1.1%) this time around, the New York Post reports.
  • “Gannett is not going to think about it until they see how things shake out,” a source told the paper.
  • That's despite the fact that a pending sale of Tronc's Los Angeles Times and San Diego Union-Tribune would eliminate $330M in debt and $90 in pension obligations, making Gannett an even better fit.
  • Other likely bidders still considered in the running are SoftBank (SFTBY +2.5%) and Apollo (APO +0.2%).

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