Gannett Co. proposed to acquire Tribune Publishing Co. in a deal valued at $815 million, including debt, as the owner of USA Today seeks to add the Los Angeles Times and Chicago Tribune to its portfolio of newspapers.

The offer values Tribune shares at $12.25 each in cash, a 63% premium to their closing price Friday.

A Tribune Publishing representative was unavailable for comment Monday, but Gannett said in its news release that it has been disappointed with the company's response to the USA Today owner's proposal.

Write to Joshua Jamerson at joshua.jamerson@wsj.com

(END) Dow Jones Newswires

April 25, 2016 08:15 ET (12:15 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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