market folly

Activist investor Carl Icahn has filed a 13D on Gannett (GCI) as well as Tegna (TGNA).  The company recently split into two, with the publishing assets becoming Gannett and the rest of the company listing as Tegna.


Per Google Finance, Tegna is "a media and marketing solutions company. The Company is engaged in providing local content on a range of platforms in the United States. The Company operates through business segments: Broadcasting and Digital. It also provides digital marketing services and Internet-based human resource solutions. Its digital media products and services include search, social media and Website development, among others. The Company offers its services in a range of geographies, demographics and content areas. It provides consumers with the information and entertainment, and connects them to their communities through the platforms, including television stations, desktop, smartphone and tablet products. Its Broadcasting segment includes an independent station group of network affiliates. The Company's Digital business segment includes Cars.com, CareerBuilder, PointRoll and Shoplocal."

Per his 13D filing, Icahn shows a 6.51% ownership stake in Gannett (GCI) with 7,483,683 shares.  Icahn acquired additional shares in connection with the separation.

You can view additional recent portfolio activity from Icahn here.