Newslight makes $680M offer for Tribune Publishing
April 6, 2021- Share:
Newslight has made a $680 million takeover bid for Tribune Publishing, a figure that beats a $635 million offer from hedge fund Alden Global Capital earlier this year, according to reports. Newslight, co-owned by Choice Hotels International chairman Stewart Bainum and Swiss billionaire Hansjörg Wyss, offered $18.50 a share, according to The Wall Street Journal. Alden has already built a roughly 32% stake in Chicago-based Tribune, which owns a range of publications including The Chicago Tribune and The New York Daily News.
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