Gannett Company's (GCI) is no longer pursuing an acquisition of Tronc (TRNC) , which owns The Los Angeles Times and Chicago Tribune. "Tronc is a very problematic company and the guy who runs it is on the wall of shame for Mad Money," says TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer, referencing his program on CNBC. "He walked away from a bid." Shares of Gannett rose 0.8% on Tuesday in midday trading. Tronc, which used to be known as Tribune Publishing Company, saw its stock plummet roughly 16%.
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