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 USA Today, 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%.

On Monday, 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.

Elsewhere:

New York Times ( NYT) was down 2.4% to $5.28.

McClatchy ( MNI) was down 3.3% to 59 cents.

Washington Post ( WPO) was down 2% to $380.91.

A.H. Belo Corp. ( AHC) was down 2.9% to $1.65.

If you liked this article you might like

Health Stock Winners and Losers: Bristol, Glaxo

Health Stock Winners and Losers: Bristol, Glaxo

Health Winners and Losers: AstraZeneca

Health Winners and Losers: AstraZeneca

AT&T Near Deal to Buy Alltel Assets: Report

AT&T Near Deal to Buy Alltel Assets: Report

Chips Pummeled; Nvidia Swings to Loss

Chips Pummeled; Nvidia Swings to Loss

Google's Schmidt: Why Would I Leave Apple's Board?

Google's Schmidt: Why Would I Leave Apple's Board?