Gannett Co., Inc. today announced that it has increased its all-cash, premium offer to acquire Tribune Publishing Company to $15.00 per share from $12.25 per share, subject to due diligence. The revised offer represents a premium of 99% to Tribune’s closing price of $7.52 per share on April 22, 2016, the last trading day before Gannett publicly announced its initial offer for Tribune. The total value of the revised offer is approximately $864 million, including the assumption of certain Tribune liabilities, which include approximately $385 million of debt outstanding as of March 27, 2016. John Jeffry Louis, Chairman of the Gannett Board of Directors, said, “Our increased offer demonstrates our commitment to engaging in serious and meaningful negotiations with the Tribune Board to reach a mutually agreeable transaction where Gannett acquires all of Tribune. It is evident from our discussions with Tribune shareholders that there is overwhelming support for the companies to engage immediately regarding our proposed transaction. By increasing our offer at this time, we are reaffirming Gannett’s belief that this transaction would deliver significant value to both companies’ stakeholders and that the time to act is now. We encourage Tribune’s shareholders to send a clear message to their Board to engage immediately with Gannett regarding our revised all-cash, premium offer.”
Consumer complaints to Keep Me Posted (KMP) increased throughout the pandemic as service providers altered or removed paper communication preferences at an alarming rate. For years, banks, utilities, telecoms and other companies have encouraged and even incentivized their customers to voluntarily opt in to digital correspondence on their accounts. Over time however, many service providers have replaced carrots with sticks and charge punishing fees for paper bills and statements.
Since the beginning of the pandemic, a laundry list of major corporations have taken advantage of widespread disruptions to proactively assault longstanding communications preferences. Far too many stopped asking consumers to opt in to electronic bills, statements and other important notices, and instead just switched their account holders from paper to digital communication without prior consent.
These anti-consumer practices show no sign of fixing themselves, but there is a silver lining. In many instances, consumers can reclaim their preferences for paper communications, free of charge, by taking a few proven steps.
Option One: Use KMP’s sample letter to request that a company revert back to paper communications, and ask that they waive all paper fees. Consumers who have used this template have reported back that their banks, utilities and other service providers were often very accommodating, with paper correspondence restored quickly or fees for such removed, even refunded.
Option Two: Engage with companies on social media, sharing your frustration with paper fees or your concern over having your communications preferences switched without asking. Depending on the circumstance, it might be best to share with the corporate Facebook or Twitter account after direct communications with customer service fails to get results. This elevates the seriousness and adds to the unwelcome scrutiny most companies seek to avoid.
Option Three: If you have already used the KMP sample letter in direct correspondence and have made your concerns known publicly to the official social media accounts of the company abusing your paper preferences, it might be time to reach out to the Better Business Bureau (BBB). This influential organization has been dedicated to fostering marketplace trust for over a century, and provides no cost options to file formal complaints as well as write business reviews.
Option Four: If you have gotten nowhere restoring free paper communications by reaching out to a company directly, on social media and even after notifying the BBB, it may be worthwhile to contact your state’s office of attorney general. As the chief legal officers of their jurisdictions, AGs serve as the ultimate public interest watchdogs. Furthermore, their offices counsel state government agencies and legislatures, and thus have a role in elevating the issue of our collective rights to paper communications.
Don’t forget to share your story with KMP. We want to hear from you. As part of our mission, our coalition gathers feedback on industry practices and maintains a database of consumer complaints and consumer success stories. Write to us at Keep Me Posted, 330 North Wabash Avenue, Suite 2000, Chicago, IL 60611 or email us at email@example.com.