Gannett announced that, based on a preliminary vote count,
shareholders have elected all eight of Gannett’s director nominees to the
Gannett board — John Jeffry Louis, John E. Cody, Stephen W. Coll, Donald
E. Felsinger, Lila Ibrahim, Lawrence S. Kramer, Debra A. Sandler and Chloe R.
Sladden.
The vote represents a rebuff of Digital First
Media's efforts to take over Gannett by putting in its own board members, CNN
and others noted.
“Consistent with the interactions with our
investors leading up to the meeting, this outcome demonstrates that Gannett
shareholders recognize the continued progress we have made toward our ongoing
digital transformation and agree that our strategic plan is the best path to
deliver value for all Gannett shareholders,” said a statement from Gannett.
“This is a win for an entrenched Gannett Board
that has been unwilling to address the current realities of the newspaper
business, and sadly a loss for Gannett and its shareholders,” said a statement
from MNG Enterprises.
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