Gannett Drops Bid for Tronc After Financing Falls Through

Bloomberg: Gannett dropped its $683 million bid for rival Tronc after financing fell through, ending a months-long pursuit that would have put some of the biggest U.S. newspapers under one roof. The companies’ handshake deal early last month, in which Gannett would buy Tronc for about $18.75 a share, collapsed when bankers wouldn’t line up to fund the transaction.