Gannett looks to buy Tribune

Associated Press

NEW YORK

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

But Gannett said Monday that Tribune has refused to start “constructive discussions” since it first offered to buy its rival earlier this month. Tribune confirmed Monday that it received the unsolicited offer and said it “will respond to Gannett as quickly as feasible.”

Gannett wants Tribune so that it can expand its USA Today Network, an effort it launched last year to unite USA Today with its more than 100 local daily newspapers.

As more people get news online, print media companies have been buying up newspapers and websites to fight falling advertising revenue and reduce costs.