=tronc (TRNC) to rename the company Tribune Publishing Company

• Newspaper publisher Tronc Inc. is changing its name back to Tribune Publishing Co., killing off one of the most-ridiculed monikers in corporate history.
• Effective Tuesday, October 9 at 4:15 pm ET; company's stock will trade under the ticker TPCO beginning with the open of trading on Wednesday, October 10

=Tronc (TRNC) to sell Los Angeles Times

(Reuters) - Tronc Inc (TRNC), the owner of the Los Angeles Times, is expected to announce a sale of the newspaper to billionaire biotech investor Patrick Soon-Shiong, a source familiar with the matter said.

Soon-Shiong, a major shareholder in Tronc and chief executive of NantHealth Inc (NH), will also buy the Times' sister newspaper, the San Diego Union-Tribune, the source said.

Tronc was not immediately available for comment.

The Times, acquired by Tronc's predecessor Tribune Co in 2000, has undergone several management changes and rounds of layoffs, reflecting a struggle by newspapers in general to adapt to digital media.

The newspaper's publisher and CEO, Ross Levinsohn, agreed to take an unpaid leave of absence last month following disclosure of sexual harassment allegations against him while he worked at other companies. (http://bit.ly/2DWOS0o)

Tronc acquired the San Diego Union-Tribune in May 2015. Its other newspapers include the Baltimore Sun and the Hartford Courant.

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tronc confirms deal to sell the L.A. Times, The San Diego Union-Tribune and various titles in the California News Group to Nant Capital for $500 mln in cash plus the assumption of $90 mln in pension liabilities  

• The Portfolio being divested represented approximately $470 million in net revenues for the twelve-month period ending Sept. 30, 2017, and approximately $73 million of EBITDA, including the corporate cost allocation associated with the Portfolio.
• Additionally, the co announced it has acquired a majority ownership stake in BestReviews, the high growth online product review company based in San Francisco, California, and Reno, Nevada. BestReviews' current owners will retain a minority ownership position and continue to oversee and manage all operations. 

=Gannett (GCI) has terminated discussions to acquire tronc (TRNC)

Gannett (GCI) confirmed that the company has been engaged in discussions with tronc, Inc., regarding a potential transaction and has determined not to pursue an acquisition of tronc.

tronc comments on Gannett's (GCI) withdrawal of its proposal due to inability to finance (TRNC) :

"We were informed early this morning that Gannett has decided to abruptly terminate discussions regarding a potential business combination with tronc. As noted previously, tronc had serious doubts about Gannett's ability to finance a transaction that was in the best interest of tronc's shareholders and other stakeholders. Nonetheless, over the past several months, the tronc Board, management team and their advisors engaged in substantive discussions and due diligence with Gannett regarding a potential transaction, with an unwavering focus on creating value for tronc shareholders. The parties agreed to a purchase price in mid-September and subsequently worked to finalize a Merger Agreement. Last week, Gannett informed tronc that its financing encountered an unexpected delay. It is unfortunate that Gannett's lenders made their decision to terminate their role in the transaction without the benefit of tronc's third quarter financials or any future projections. tronc remained a constructive partner to Gannett as it sought to complete its financing for the agreed upon purchase price, however, Gannett was unable to do so and terminated discussions.