Wednesday, November 14, 2007
Big Gannett stockholder sells all shares
Private Capital Management, which forced a sale of Knight Ridder, has sold all its GCI stock as part of a broad retrenchment in the private-equity firm's newspaper holdings, Dow Jones Newswires said today. As recently as four months ago, PCM owned 1.6% of Gannett's stock. PCM's move follows the news last week that Brandes Investment Partners had nearly doubled its stake in GCI.
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Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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