Pulitzer Publishing rejected Taubman’s latest bid.

Financier A. Alfred Taubman had proposed increasing his bid for the company to $625 million in cash and preferred stock. The financier had earlier offered $500 million for the firm. Joseph Pulitzer Jr., chairman of the St. Louis media company, and two other major shareholders, Michael Pulitzer and David Moore, reviewed Taubman’s revised offer and said that “they as shareholders have no interest in or intention of accepting such offer or otherwise selling their shares to Taubman Media,” Pulitzer Publishing said in a statement. The three shareholders own more than 54% of the company’s stock.