Tribune Publishing, the newspaper chain that includes The Chicago Tribune, The Daily News and The Baltimore Sun, said on Monday that it has begun serious discussions about a sale of the company to a pair of bidders who came through with an offer nearly two months after Tribune agreed to sell itself to Alden Global Capital, a New York hedge fund. The two have joined together in a company called Newslight. Tribune Publishing announced on Monday that it would “engage in discussions and negotiations” with Mr. Bainum and Mr. Wyss. Late last month, Mr. Wyss emerged as a surprise new player, telling The New York Times that he would team up with Mr. Bainum in a bid for the chain. On Thursday, Mr. Wyss and Mr. Bainum submitted their bid, which valued Tribune at $18.50 a share, beating Alden’s offer of $17.25.

Source: International New York Times April 05, 2021 12:55 UTC