Gannett Co. on Monday went public with its proposal to acquire Tribune Publishing Co. in a deal valued at about $400 million that would combine titles like USA Today, the Los Angeles Times and Chicago Tribune, as the struggling newspaper industry increasingly consolidates.

Gannett is offering $12.25 in cash for each share of Tribune, a 63% premium to the stock’s closing price Friday. Including the assumption of Tribune’s debt, Gannett said the deal has a total value of $815 million.

“By combining, we would create a company with the financial stability and flexibility equipped to preserve journalistic integrity, high standards and excellence for years to come,” Gannett Chief Executive Robert Dickey wrote in a letter to his counterpart at Tribune, CEO Justin Dearborn.

In the letter, Gannett said it was disappointed with Tribune’s response to its proposal made April 12 and frustrated with its “refusal to begin constructive discussions with us.”

In a statement Monday, Tribune said it told Gannett that it is completing arrangements with financial and legal advisers to assist it in reviewing the offer and would “respond to Gannett as quickly as feasible.”