- Gannett (NYSE:GCI) is up 1.4% after hours following a WSJ report that MNG/Digital First is launching a proxy fight over the company's board.
- That follows Gannett's rejection of MNG's $12/share cash bid for the company, and a response from MNG that Gannett had "no credible plan" to get to that price on its own.
- Digital First is nominating six candidates and will seek to replace a majority of Gannett's board this spring. It's one of Gannett's biggest shareholders, with a 7.5% stake.
- Gannett's quoting at $11.15 after hours.