Gannett separates into two public companies
It’s official. McLean-based Gannett has separated into two public companies.
Gannett announced in August that it planned to separate into two firms: a broadcasting and digital company that will operate under the name Tegna and a publishing company that will keep the Gannett name. Both firms still are based in McLean.
Tegna will begin trading today on the New York Stock Exchange under the symbol TGNA. New Gannett shares also begin “regular way” trading today on the NYSE under the symbol GCI.
Under the terms of the deal, Gannett shareholders retained their shares of Gannett, now TEGNA, and also received one share of new Gannett for every two shares of Gannett stock they owned on June 22, 2015.