MNG Enterprises Comments on Initial Voting Results of Gannett Annual Meeting
May 16 2019 - 8:59AM
Business Wire
MNG Enterprises, Inc. (“MNG”), owner and operator of one of the
largest newspaper businesses in the U.S. and the largest active
shareholder in Gannett Co., Inc. (NYSE:GCI) (“Gannett” or the
“Company”), today issued the following statement based on its
analysis of the preliminary voting results of Gannett’s 2019 Annual
Meeting.
“This is a win for an entrenched Gannett Board that has been
unwilling to address the current realities of the newspaper
business, and sadly a loss for Gannett and its shareholders.
“Gannett’s newspapers are critical local resources, and we hope
that Gannett’s incumbent Board and Management shift course to
embrace a modern approach to local news that will save newspapers
and serve communities. That would be the best outcome. If Gannett’s
Board does not shift course from overpaying for non-core,
aspirational and dilutive digital deals, we believe the stock will
drop further.”
About MNG Enterprises
MNG Enterprises, Inc. is one of the largest owners and operators
of newspapers in the United States by circulation, with
approximately 200 publications including The Denver Post, The
Mercury News, The Orange County Register and The Boston Herald. MNG
is a leader in local, multi-platform news and information,
distinguished by its award-winning original content and high
quality, diversified portfolio of both print and local news and
information web sites and mobile apps offering rich multimedia
experiences across the nation. For more information, please visit
www.medianewsgroup.com.
Additional Information
MNG Enterprises, Inc., together with the other participants in
its proxy solicitation (collectively, “MNG”), have filed a
definitive proxy statement and an accompanying BLUE proxy card with
the Securities and Exchange Commission (the “SEC”) to be used to
solicit votes for the election of MNG’s slate of highly-qualified
director nominees at the 2019 annual meeting of stockholders (the
“Annual Meeting”) of Gannett Co., Inc. (the “Company”).
Stockholders are advised to read the proxy statement and any other
documents related to the solicitation of stockholders of the
Company in connection with the Annual Meeting because they contain
important information, including additional information relating to
the participants in MNG’s proxy solicitation. These materials and
other materials filed by MNG in connection with the solicitation of
proxies are available at no charge on the SEC’s website at
www.sec.gov. The definitive proxy statement and other relevant
documents filed by MNG with the SEC are also available, without
charge, by directing a request to MNG’s proxy solicitor, Okapi
Partners LLC, at its toll-free number (888) 785-6668 or via email
at info@okapipartners.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190516005608/en/
MEDIA:ReevemarkPaul Caminiti / Hugh Burns / Renée
Soto+1
212.433.4600MNGInquiries@reevemark.comINVESTOR:Okapi
Partners LLCBruce Goldfarb/Pat McHugh+
212.297.0720info@okapipartners.com
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