Gannett Co. said this morning that it had offered $815 million for Tribune Publishing Co., parent of the Los Angeles Times and Chicago Tribune. The deal, at $12.25 a share, is at a 63 percent premium to Tribune’s Friday close and includes the assumption of $390 million in debt, USA Today reports. Gannett is the owner of USA Today and more than 100 other media properties.

For reprint and licensing requests for this article, CLICK HERE.