Gannett (GCI), tronic (TRNC) Said Near Deal to Merge

October 3, 2016 7:09 AM EDT

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Gannett (NYSE: GCI) said near a deal to acquire tronc (Nasdaq: TRNC), according to Politico.

tronic, formerly known as Tribune Publishing, is publisher of The Los Angeles Times, The Chicago Tribune and The Baltimore Sun, among other news sources.

Draft documents have been exchanged between the two companies and an announcement could come as soon as Monday morning.

Pricing is expected to be $18.50 to $19 per share.

tronic last traded at $16.88 per share

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