Gannett Comments on Proposal from MNG Enterprises Inc.
15 January 2019 - 12:35AM
Business Wire
No Action Needs to Be Taken by Gannett
Shareholders At This Time
Gannett (NYSE: GCI) (“Gannett” or “the company”) today confirmed
that it has received an unsolicited proposal from MNG Enterprises
Inc. to acquire Gannett for $12 per share in cash. Gannett’s stock
closed at $9.75 on Friday, January 11, 2019.
Consistent with its fiduciary duties and in consultation with
its financial and legal advisors, the Gannett board of directors
will carefully review the proposal received to determine the course
of action that it believes is in the best interest of the company
and Gannett shareholders. No action needs to be taken by Gannett
shareholders at this point.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements include all statements that are
not historical facts. The words “believe,” “expect,” “estimate,”
“could,” “should,” “intend,” “may,” “plan,” “seek,” “anticipate,”
“project” and similar expressions, among others, generally identify
forward-looking statements, which speak only as of the date the
statements were made and are not guarantees of future performance.
Where, in any forward-looking statement, an expectation or belief
as to future results or events is expressed, such expectation or
belief is based on the current plans and expectations of our
management and expressed in good faith and believed to have a
reasonable basis, but there can be no assurance that the
expectation or belief will result or be achieved or accomplished.
Whether or not any such forward-looking statements are in fact
achieved will depend on future events, some of which are beyond our
control. The matters discussed in these forward-looking statements
are subject to a number of risks, trends, uncertainties and other
factors that could cause actual results or events to differ
materially from those projected, anticipated or implied in the
forward-looking statements, including the matters described under
the heading “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” in the
company’s annual report on Form 10-K for fiscal year 2017 and in
the company’s other SEC filings.
About Gannett
Gannett Co., Inc. (NYSE: GCI) is an innovative, digitally
focused media and marketing solutions company committed to
strengthening communities across our network. With an unmatched
local-to-national reach, Gannett touches the lives of more than 125
million people monthly with our Pulitzer-Prize winning content,
consumer experiences and benefits, and advertiser products and
services. Gannett brands include USA TODAY NETWORK with the iconic
USA TODAY and more than 100 local media brands, digital marketing
services companies ReachLocal, WordStream and SweetIQ, and U.K.
media company Newsquest. To connect with us, visit
www.gannett.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190114005447/en/
For investor inquiries:Stacy CunninghamVice President,
Financial Analysis and Investor
Relations703-854-3168investors@gannett.com
For media inquiries:Amber AllmanVice President, Corporate
Events & Communications703-854-5358aallman@gannett.com
Ed Trissel / Nick Lamplough / Tim RagonesJoele Frank, Wilkinson
Brimmer Katcher(212) 355-4449
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