Tronc Said in Active Talks on Gannett Bid of About $673 Million

Tronc Inc. is in active discussions over Gannett Inc.’s takeover bid of about $673 million, people familiar with the matter said, indicating it may be willing to drop its fierce resistance to a merger of the two newspaper publishers.

The companies are discussing an offer by Gannett in the neighborhood of $18.50 a share, said the people, who asked not to be identified discussing private negotiations. While the talks are in full swing, it’s possible a deal may not materialize.