SEC filing shows Icahn grabs 15 million shares of Gannett

By Benjamin SnyderManaging Editor
Benjamin SnyderManaging Editor

Benjamin Snyder is Fortune's managing editor, leading operations for the newsroom.

Prior to rejoining Fortune, he was a managing editor at Business Insider and has worked as an editor for Bloomberg, LinkedIn and CNBC, covering leadership stories, sports business, careers and business news. He started his career as a breaking news reporter at Fortune in 2014.

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Activist investor Carl Icahn disclosed his ownership of a 6.63% stake, or 15 million shares, in media company Gannett (GCI), according to an SEC document. And he wants input on the company’s plan to spin off its print business from digital and broadcast.

The filing reports that Icahn acquired the shares “in the belief that they were undervalued and that value could be created by splitting the Issuer into separate broadcast companies.”

In the future, Icahn will “have discussions with representatives of [the company’s] management and board of directors relating to the planned separation, corporate governance, capitalization and capital allocation,” according to the filing.

Icahn now appears to be the second largest shareholder in the firm, according to CNBC.

SEC documents also show that Icahn bought 45 million shares of Apple (AAPL) and sold 480,000 shares of Netflix (NFLX), as first reported by Business Insider.

In trading after hours on Thursday, shares of Gannett rose over 5.5%.

On August 5, rumors circulated that Icahn was taking shares of Whole Foods (WFM), causing the stock to go up nearly 6% during morning trading. He also took a 9.4% stake in Family Dollar in June.