CHICAGO — Gannett Co. has offered a bid to acquire a 14.3% stake in Cowles Media Co., which publishes the Minneapolis Star & Tribune and other newspapers, it was reported Friday.
Douglas H. McCorkindale, Gannett vice chairman and chief financial officer, told the Chicago Tribune that his company offered a bid to acquire the Cowles Media stock, now held by the Des Moines Register and Tribune Co.
McCorkindale didn't offer details of the bid, which was presented to the Register and Tribune Co.'s investment banker, First Boston Corp.
Register and Tribune and Cowles Media are controlled by the Cowles family. The family agreed in January to sell all its assets in the Des Moines company and liquidate it. As part of the liquidation, the Register and Tribune agreed to sell the Des Moines Register and other newspaper properties to Gannett for $200 million.