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The activist investor has accumulated a 14.9% stake, which comes after the company formerly known as Tribune Publishing rejected a hostile bid made by USA Today publisher Gannett
Gannett (GCI) has reportedly increased its offer to acquire Los Angeles Times and Chicago Tribune owner Tronc (TRNC).
Cisco slips in premarket trading after topping analysts' profit and sales forecasts, and saying it would cut 5,500 jobs; U.S. futures are mixed; Walmart and Gap to report results.
Gannett (GCI) is reportedly preparing a higher takeover bid for Tronc (TRNC).