Tags: tribune | chicago | new york daily news | buyout

Tribune Publishing Receives $680 Million Buyout Offer From Newslight

Tribune Publishing Receives $680 Million Buyout Offer From Newslight
(Scott Olson/Getty Images)

Monday, 05 April 2021 08:48 AM

Tribune Publishing Co. has received a $680 million takeover offer from Newslight LLC, a bid that trumps an earlier proposal from hedge fund Alden Global Capital for the owner of the Chicago Tribune and the New York Daily News.

Tribune said in a statement Monday that its board had determined that the $18.50 per share proposal from Newslight, jointly owned by Choice Hotels International Inc. Chairman Stewart Bainum and Swiss billionaire Hansjörg Wyss, was superior to Alden's bid.

Newslight's offer represents a premium of about 45% to Tribune's close before Alden made its first bid on Dec. 31. The Baltimore Sun owner's shares closed at $18.03 on Thursday.

New York-based Alden, the largest shareholder in Tribune, had offered $17.25 per share for the company in February for the stake it did not already own.

© 2021 Thomson/Reuters. All rights reserved.


StreetTalk
Tribune Publishing Co. has received a $680 million takeover offer from Newslight LLC, a bid that trumps an earlier proposal from hedge fund Alden Global Capital for the owner of the Chicago Tribune and the New York Daily News.
tribune, chicago, new york daily news, buyout
134
2021-48-05
Monday, 05 April 2021 08:48 AM
Newsmax Media, Inc.
 
Newsmax TV Live
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved