SHAREHOLDER ALERT: WeissLaw LLP Investigates Gannett Co. Inc.

NEW YORK, Aug. 6, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Gannett Co. Inc. ("Gannett" or the "Company") (NYSE: GCI) in connection with the proposed merger of the Company with GateHouse Media Inc.  Under the terms of the merger agreement, Gannett shareholders will be paid $12.06 per share in cash and stock.

If you own GCI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:

Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16^th Floor
New York, NY  10036
(212) 682-3025
(888) 593-4771
[email protected]

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http://www.weisslawllp.com/gannett-co-inc/

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WeissLaw is investigating whether Gannett's Board acted to maximize shareholder value prior to entering into the merger agreement.  Notably, at least one analyst set a target price of $15.00 per Gannett share, or approximately $3.00 more than the per-share consideration.  Additionally, the Company surpassed earnings estimates in three of the last four quarters.  Gannett's earnings for the second quarter of 2019 were $0.21 per share, more than double the consensus estimates of $0.10 per share. The Company also announced improvements in same store operating expenses.  According to Gannett's Vice President and CFO, the Company reported another quarter of strong cost management, as same store operating expenses declined 9% year-over-year. 

Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances shareholder value.  Particularly, the merger agreement includes a "no shop" provision which limits competing bids and prevents Gannett from seeking other bidders, even imposing a penalty on the Company if it accepts a better offer.  WeissLaw is also concerned whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger is fully and fairly disclosed. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected].

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SOURCE WeissLaw LLP