As newspapers continue to struggle against the industry’s historic decline, Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis have landed roles on a potential merger between print giants Gannett Co. Inc. and Tribune Publishing Co.
McLean, Virginia-based Gannett said Monday that it had offered to acquire Chicago-based Tribune Publishing for $815 million, including $390 million in assumed debt. The deal would bring brands including the Los Angeles Times and the Chicago Tribune under the same roof as USA Today and the Detroit Free Press. Gannett would pay $12.25 in cash per Tribune share—a 63 percent premium to Tribune’s closing price on April 22.
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