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GCI - Gannett Turns Back Alden But It's Just A Hiccup Before The Big Rollup In The Sky
Gannett Co. Inc.
It seems like a return to status quo ante. But the ante may have changed.
No surprises: Monday, Gannett's (GCI) shareholders officially rejected Alden Global Capital's amateurish efforts to win board seats and push the country's biggest newspaper chain by revenue to sell itself.
Over the last month-plus, Alden - using the name of its MNG Enterprises, as in MediaNews Group, a moniker it now prefers to its previous Digital First Media - pivoted repeatedly. Seeing its failure on the horizon, it reduced the number of board members it was recommending. Its PR army