Tribune Adopts ‘Poison Pill’ to Fend Off Offer from Gannett

Associated Press: Fending off an unsolicited takeover by the owner of USA Today, Chicago’s Tribune Publishing has adopted a shareholder rights plan, better known as “poison pill.” The plan announced Monday allows existing shareholders to buy preferred stock if a person or group acquires at least 20 percent of its shares. Gannett called the defensive maneuver “unfortunate.”