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The Wall Street Journal: Gannett poised to hold off Digital First takeover bid

Gannett Co. is poised to retain control of its entire board in a proxy fight with a hedge-fund-backed rival that made a hostile bid for the USA Today owner, according to people familiar with the matter.

Based on the shareholder votes that have been cast so far, Gannett’s GCI, +1.60% eight nominees have received significantly more support than the three put forward by Digital First Media, the people said. The eight nominees who receive the highest number of votes cast will be elected.

The results are preliminary and shareholders could still change their votes through Gannett’s annual meeting Thursday morning.

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