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Stock Market & Financial Investment News

News Breaks
August 5, 2014
14:54 EDTGCIGannett price target raised to $37.50 from $34 at Evercore
Evercore estimates that Gannett's purchase of 100% of should be neutral to its EPS in 2015 and accretive after that. The firm raised its price target on the stock to $37.50 from $34 citing the deal and its planned split into two companies and maintains its Overweight rating on the shares.
News For GCI From The Last 14 Days
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November 30, 2015
09:59 EDTGCITribune Publishing disputes Murdoch tweet, says not in talks to sell
Shares of multi-platform media and marketing solutions company Tribune Publishing (TPUB) are surging in morning trading after Rupert Murdoch said that the company would likely be sold, However, Tribune has come out in response to state that it is not in discussions to sell the company. WHAT'S NEW: On Friday, Rupert Murdoch, the chairman and chief executive officer of News Corp (NWSA, NWS), said in a tweet that there was "strong word" that Tribune would be sold and that the LA Times would be spun off to a local group involving philanthropist Eli Broad. In an e-mailed message to employees on Monday, Tribune said it wanted to address the rumor regarding a potential purchase of the company, and said that "While our policy is not to comment on rumors, given the source of this speculation and the fact that it has received considerable public attention, the company believes a statement to employees is warranted." Tribune reaffirmed that it is committed to its strategy and transformation plan and that it is not engaged in talks or a process to sell the company. WHAT'S NOTABLE: Newsonomics' Ken Doctor reported that private equity firm Apollo Global Management (APO) approached Tribune "about a month ago," telling Tribune's Chairman Eddy Hartenstein about its interest in buying the company. Doctor notes that Tribune was "non-responsive" to requests for talks, and was "unwilling to schedule meetings or provide deeper-than-public financials." Doctor believes that, given Tribune's market capitalization and debt, a purchase price could be in the $650M-$750M range. Tribune has reportedly engaged a small group of newspaper veterans to "plot its next strategy, should an acquisition be finalized." PRICE ACTION: Tribune Publishing is up 9.2% to $10.14 in morning trading. OTHERS TO WATCH: Shares of other newspaper publishers, including McClatchy (MNI) and Gannett (GCI), are also higher this morning.
November 20, 2015
17:12 EDTGCIGannett, Journal Media Group receive second requests from U.S. DOJ
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