Correct: Icahn lowers stake in Gannett

Corrections and clarifications: An earlier version of this story incorrectly reported Carl Icahn bought a 4.66% stake in Gannett Co. Inc. He lowered his stake to less than 5%.

Activist investor Carl Icahn lowered his state stake in Gannett, the publisher of Paste BN and other local media properties, to less than 5%, according to a filing Wednesday with the Securities and Exchange Commission.

Icahn holds a 4.66% stake, according to the filing.

Shares of Gannett (GCI) fell to $15.76 Wednesday.