Hedge fund Alden, Tribune’s largest shareholder, has offered to buy the rest of the newspaper publisher at a price that values it at $520.6 million. Alden owns 31.6% of Tribune‘s shares. Tribune publishes nine major daily papers, including the New York Daily News, Chicago Tribune and Baltimore Sun. The unions at Tribune papers have pushed for alternative buyers for the company’s papers. In the filing Thursday, Alden said a deal for all of Tribune would be conditioned upon approval by a special committee of independent directors and approval from owners of two-thirds of Tribune shares not affiliated with Alden.

Source: Los Angeles Times December 31, 2020 16:28 UTC