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Ferro was asked on CNBC if Tronc, publisher of the Chicago
Tribune and the Los Angeles Times, might agree to "a different
type of deal" with USA Today publisher Gannett. He replied:
"Absolutely, if it's in the best interests of our shareholders."
He did not provide details of what such a deal might entail.
Tronc said on Tuesday that Gannett had terminated merger talks
after encountering "an unexpected delay" in financing.
A Gannett spokesman said several financing options were
available, but the No. 1 U.S. newspaper publisher by circulation
decided to terminate talks "after considering both accretion to
shareholders and whether the terms make sense for the company."
The two parties had agreed to a purchase price of $18.75 per
Tronc share, or about $683 million overall, according to sources
familiar with the situation.
Tronc shares were untraded before the opening bell, after
closing at $9.52 on Thursday. Gannett shares were also untraded,
having closed at $7.47.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Ted
Kerr)
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