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August 15, 2014
18:14 EDTGCIIcahn's recent stake in Gannett should reassure investors, Barron's reports
Carl Icahn recently disclosed a 6.63% stake in Gannett and urged the company to split. Gannett, however, already announced plans to split a week ago, thereby diminishing the potential impact of Icahn's action. Investors should be reassured nonetheless, as it signifies confidence in the potential growth of the company, which is trading below 14 times forward earnings and has a long term growth rate of 10%, Barron's reports. Reference Link
News For GCI From The Last 14 Days
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October 1, 2014
09:50 EDTGCITribune Media closes sale of 27.8% stake in CV to Gannett
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09:47 EDTGCIA.H. Belo enters new five-year affiliate agreement with CV
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09:22 EDTGCIGraham Holdings closes sale of 16.5% Stake In to Gannett
Graham Holdings (GHC) announced that the company and the remaining partners in Classified Ventures have completed the sale of their entire stakes in CV to Gannett (GCI) for a price that values CV at $2.5B. The agreement to sell was announced on August 5. CV was a joint venture among Graham Holdings, A. H. Belo (AHC), Gannett, McClatchy (MNI) and Tribune (TRBAA) Media. Graham Holdings owned 16.5% of CV, whose primary asset is, the online car shopping website. Gross proceeds to the selling partners are $1.8B. Total proceeds to Graham Holdings, net of transaction costs, are $408.5M, of which $16.5M will be held in escrow until October 1, 2015. The company will report a gain on the sale of its interest in CV Q4.
09:22 EDTGCIMcClatchy closes sale of 25.6% stake in to Gannett
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09:17 EDTGCIGannett completes acquisition of remaining 73% interest in
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