Tronc, formerly known as Tribune Publishing, had rejected at least two bids from Gannett since April, saying it preferred to go it alone and focus on tech-driven initiatives involving artificial intelligence and global expansion in entertainment news and video. Tronc's stock lost more than 12 percent Tuesday. After the stock market's close, Tronc reported third-quarter results showing its revenue declined in both its traditional and digital businesses. But it kept its sales guidance for the year and raised a profit forecast.