There is continued conflict between Tribune Publishing and Gannett about the future of Tribune and the status of Gannett’s offer to buy the company.
A vote by shareholders of Tribune kept in place the company’s current board, but the margin of the confidence vote may be so close that it signals a willingness by most shareholders to at least seriously consider Gannett’s $864 million takeover bid.
Tribune owns the Hartford Courant, the Chicago Tribune, the Los Angeles Times, and the Baltimore Sun, among other properties.
In a possibly related development, employees of the papers received notice late Thursday that Tribune is changing its corporate name to tronc, Inc.(small ‘t’) as of June 20th. Tronc stands for “Tribune on-line content.” The new name is supposed to reflect the company’s intention to “remain a content curation and monetization company focused on creating and distributing premium, verified content across all channels,” according to internal working documents obtained by The Laurel:
Tribune Publishing has a proud history, with iconic brands that remain the core of who we are. But as we are all well-aware, the media industry is shifting rapidly, and the path to success requires an innovative new approach and a fundamentally different way of operating.
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