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Editorial Results (free)

1. Bid for Gannett latest challenge for newspaper industry -

NEW YORK (AP) — A hedge-fund-backed bid to buy Gannett Co., the publisher of USA Today and several other major dailies across the U.S., is renewing fears of consolidation and job losses — as well as a decline in the quantity and quality of news coverage — in the already battered newspaper industry.

2. Stites & Harbison adds litigator from Memphis -

Stites & Harbison, PLLC has hired Jonathan Wolf to its Nashville office. Wolf joins the Intellectual Property & Technology and Domestic Relations/Family Law service groups.

Wolf works with clients on a wide range of copyright, trademark and other intellectual property law litigation and transactional matters related to the media and entertainment industry, as well as domestic relations/family law matters.

3. Los Angeles Times sold to local billionaire for $500 million -

The Los Angeles Times is being sold to a local billionaire for $500 million, ending its strained tenure under the owner of the Chicago Tribune.

Dr. Patrick Soon-Shiong is a major shareholder of Chicago's Tronc Inc., one of the richest men in Los Angeles and, according to Forbes, the nation's wealthiest doctor, with a net worth of $7.8 billion.

4. Newspaper deal falls apart as Gannett gives up on Tronc -

NEW YORK (AP) — USA Today publisher Gannett walked away Tuesday from its attempted takeover of Tronc, the owner of the Los Angeles Times, Chicago Tribune and other major dailies.

Gannett's target was elusive from the beginning, with a publicly contentious back-and-forth between the two companies. Tronc, formerly known as Tribune Publishing, rejected at least two bids from Gannett since April because it said it preferred to go it alone and focus on tech-driven initiatives involving artificial intelligence and global expansion in entertainment news and video.

5. Lanquist named general counsel for Bar Association -

Edward D. Lanquist, Jr., managing shareholder at Patterson Intellectual Property Law, P.C., has been appointed general counsel of the Tennessee Bar Association.

The general counsel is chosen by the president of the TBA and serves a volunteer, one-year term. As general counsel, Lanquist will provide counsel to the board and board members and be actively involved in governance of the organization.

6. Gannett still in the hunt for Tribune Publishing -

NEW YORK (AP) — Gannett is still in the hunt for Tribune Publishing, a day after investors in the Chicago company showed lackluster support for its board.

A regulatory filing Monday showed more than 40 percent of voting shareholders withheld support for directors put up by the Tribune.

7. Tribune renames itself 'Tronc' while Gannett weighs its bid -

NEW YORK (AP) — We still don't know if USA Today owner Gannett will continue its $864 million bid for Tribune Publishing, but we do know that no one will have Tribune to kick around anymore.

That's because it's changing its corporate name — to Tronc Inc., standing for "Tribune online content." It's also the former name of Tribune's new "content curation and monetization" technology, which it now calls TroncX. That's the backbone of Tribune's plan to squeeze more money out of digital ads and customize news articles for readers.

8. Tribune rejects second Gannett bid; sets the stage for talks -

NEW YORK (AP) — Tribune Publishing rejected a second takeover bid from USA Today owner Gannett, but did say Monday that it was open to further talks.

Gannett last week raised its per-share bid for the owner of the Los Angeles Times, Chicago Tribune and other newspapers to $15, from $12.25. Gannett, based in McLean, Virginia, put the total value of the revised offer at about $864 million, which includes some $385 million in debt.

9. US stocks close slightly lower as investors wait for Fed -

NEW YORK (AP) — Stocks ended a quiet day slightly lower on Monday as investors sat on the sidelines waiting for more clues about whether the Federal Reserve might raise interest rates next month. Energy stocks  fell along with the price of crude oil.

10. Gannett raises offer for Tribune Publishing by 22 percent -

NEW YORK (AP) — USA Today owner Gannett has boosted its takeover bid for Tribune Publishing Co. by about 22 percent one week after the owner of the Los Angeles Times, Chicago Tribune and other newspapers adopted a "poison pill" plan to thwart the unsolicited offer.

11. US stocks climb in broad rally as crude oil rises -

NEW YORK (AP) — A jump in oil prices and some deal news helped send stocks up broadly Monday, breaking a three-day losing streak.

Investors bought from the start of trading, pushing oil drillers and other energy stocks up sharply. A bullish oil report from Goldman Sachs helped send benchmark U.S. crude up 3.3 percent to its highest close in six months. All 10 sectors of the Standard and Poor's 500 index rose.

12. Tribune adopts shareholder rights plan to fend off Gannett -

NEW YORK (AP) — In an attempt to fend off a takeover by USA Today owner Gannett, Tribune Publishing says it adopted a one-year shareholder rights plan.

Known as a "poison pill," these types of plans are used to fight off hostile takeovers.

13. Tribune Publishing rejects Gannett's 'opportunistic' bid -

Tribune Publishing Co. on Wednesday rejected Gannett's more than $388 million buyout offer, saying it's too little for the company that owns The Los Angeles Times, Chicago Tribune and other newspapers.

14. Gannett tells Tribune shareholders not to vote for board -

NEW YORK (AP) — Gannett is escalating its pursuit of rival newspaper company Tribune, telling shareholders of Tribune not to vote for its board member nominees up for election in June.

Gannett, the publisher of USA Today and other newspapers, said Monday that withholding a vote at Tribune's annual meeting next month will send a message to the management team that it needs to engage in takeover talks.

15. Tribune calls Gannett 'erratic,' but still reviewing deal -

NEW YORK (AP) — Tribune Publishing said Tuesday in a letter that USA Today owner Gannett was "erratic" and "unreliable" as the two newspaper companies tried to discuss a possible tie-up.

Nonetheless, Tribune said it is still considering the $388 million takeover offer from Gannett.

16. US stocks slip as energy companies fall with oil prices -

NEW YORK (AP) — U.S. stocks slipped in quiet trading Monday as energy companies dropped with the price of oil. Metals and chemicals companies also fell. Company earnings remain weak, and Xerox and drugmaker Perrigo tumbled after reporting disappointing results and cutting their forecasts for the year.

17. USA Today owner Gannett bids for LA Times publisher Tribune -

NEW YORK (AP) — Newspaper publisher Gannett wants to buy Tribune Publishing for more than $388 million, in a deal that would give the owner of USA Today control of the Los Angeles Times, Chicago Tribune and several other newspapers.

18. Tribune Publishing gets $44.4M from Chicago investor -

CHICAGO (AP) — Tribune Publishing is getting a $44.4 million cash boost from an investor in Chicago who will become the nonexecutive chairman of the company that owns the Chicago Tribune and the Los Angeles Times.

19. Tribune Publishing gets $44.4M from Chicago investor -

CHICAGO (AP) — Tribune Publishing is getting a $44.4 million cash boost from an investor in Chicago who will become the nonexecutive chairman of the company that owns the Chicago Tribune and the Los Angeles Times.

20. Gannett splits publishing, broadcasting in two -

NEW YORK (AP) — The game of survival is on for newspapers, as USA Today owner Gannett on Tuesday became the most recent major media entity to say it will divide its print and broadcast divisions into separate companies.

21. Journal Communications, Scripps Co. announce deal -

NEW YORK (AP) — Journal Communications Inc. of Milwaukee and E.W. Scripps Co. of Cincinnati have agreed to combine their broadcasting operations while spinning off newspaper holdings into a separate public entity.

22. News media challenge ban on journalism drones -

WASHINGTON (AP) — More than a dozen media organizations challenged the government's ban on the use of drones by journalists Tuesday, saying the Federal Aviation Administration's position violates First Amendment protections for news gathering.

23. Tribune Co. to cut 700 jobs at newspaper division -

CHICAGO (AP) — Tribune Co. says it's eliminating about 700 jobs as part of a restructuring of its newspaper business.

Spokesman Gary Weitman says the cuts will take place over the next year. In addition to the Chicago Tribune, the Tribune Co. owns the Los Angeles Times and six other daily newspapers.

24. Tribune plans to split into 2 companies -

CHICAGO (AP) — Tribune Co. said Wednesday that it wants to split its broadcasting and publishing businesses into two companies.

Tribune said the move will let one company take advantage of growth in broadcasting and allow the other to focus on newspapers, an industry where revenue has been declining for years.