Gannett Co., the publisher that owns USA Today, climbed as much as 9.3% on a report that it held merger talks with Gatehouse Media, a deal that would unite the two largest newspaper chains in the U.S.
Gannett also has discussed deals with Tribune Publishing Co. and McClatchy Co., the Wall Street Journal said, citing unidentified people familiar with the matter. Gannett and Gatehouse didn’t immediately respond to requests for comment from Bloomberg News.
Newspapers giants, plagued by diminishing advertising and competition from digital upstarts, are increasingly looking for ways to team up. But Gannett hasn’t welcomed all comers: It spurned a hostile $1.36 billion offer from MNG Enterprises Inc. in January.
[Gannett owns the Salisbury Daily Times. --Editor]