Digital First to Attempt an Overhaul of Gannett Board
USA Today publisher faces a proxy fight after rejecting Digital First’s takeover bid
Digital First Media, the hedge-fund-backed newspaper chain whose takeover bid for Gannett Co. was rejected, has launched a proxy fight in an attempt to remake Gannett’s board of directors.
Digital First is one of Gannett’s largest shareholders with about 7.5% of its stock. It nominated a slate of six candidates Thursday and will solicit shareholder votes for them to replace a majority of the board members at the company’s annual meeting this spring.
...