Icahn Takes New Activist Position in Gannett, Backs Split Plan

Carl Icahn, who disclosed a new activist stake in Gannett, had planned to mount a campaign to separate the company’s print and broadcasting businesses before Gannett beat him to it.

He still wants to talk with management. Icahn Associates acquired about 6.6 percent of Gannett’s shares and options during the second quarter, with the belief that “value could be created by splitting the issuer into separate print and broadcast companies,” the fund said.

Gannett announced on Aug 5 that it planned that very separation before Icahn had any contact with the company, according to the filing.