Shares of Gannett (GCI) were rising Monday after an announcement last week that a major shareholder had doubled its stake in the company.
On Thursday, Ariel Investments said it had increased its holdings in Gannett, which owns
, among other media outlets, to 28.7 million shares as of March 31 from 11.1 million shares on Dec. 31., thereby raising its stake to 12.5% from 4.8%.
The Associated Press
reported that several nondaily papers in Oakland County, Mich., will cease or merge publications, resulting in 44 jobs cut. Gannett shares were recently up 6.4% to $3.99.
New York Times
was down 2.4% to $5.28.
was down 3.3% to 59 cents.
was down 2% to $380.91.
A.H. Belo Corp.
was down 2.9% to $1.65.