Gannett Board Greenlights Split
Gannett's board finalized a plan to split the media conglomerate into two publicly traded entities -- Tegna and “new” Gannett (see 1504210034) -- the company said in a news release Monday. Tegna will be a broadcasting and digital organization, while…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“new” Gannett retains all publishing outlets and related digital services. Gannett’s current $4.4 billion in debt will shift to Tegna upon the separation, which is expected to occur June 29. Shareholders will keep any shares of Gannett stock, which will be renamed Tegna, and receive one share of “new” Gannett stock for every two shares they previously held.