Tronc Issues Rosy Outlook Amid Hostile Bid from Gannett

Crain’s Chicago Business: Tronc, which own the Chicago Tribune and Los Angeles Times, said earnings and revenue this year could be higher than expected. That rosy outlook comes as the Chicago-based company tries to fend off a hostile $15-a-share takeover bid from Gannett. Tronc, led by chairman and co-owner Michael Ferro, has dismissed the Gannett offer as inadequate, saying his strategy is superior.