Gannett Board Approves Completion of Spin-off Transaction

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Go back to Gannett Board Approves Completion of Spin-off Transaction

Gannett (GCI) Board Approves Company Split; Updates on New Capital Structure, Board Members

June 8, 2015 10:37 AM EDT

Gannett (NYSE: GCI) announced that its Board of Directors has approved completion of the previously announced separation transaction which will create two publicly traded companies: a broadcasting and digital company named TEGNA and new Gannett, which will retain the name Gannett Co., Inc. and will include its publishing properties and affiliated digital assets. Under the terms of the transaction, Gannett shareholders will retain their shares of Gannett (which will be renamed TEGNA) and receive one share of new Gannett for every two shares of Gannett stock they own on the record date of June 22,... More