Tribune Publishing ends discussions with Maryland hotel executive, moving forward with hedge fund Alden’s bid for newspaper chain
Published by
Chicago Tribune

Tribune Publishing is moving forward with plans to be acquired by Alden Global Capital and has ended discussions with a Maryland hotel executive interested in purchasing the Chicago-based newspaper chain. In a Monday morning news release, Tribune Publishing said it was notified Saturday that Swiss billionaire Hansjörg Wyss had pulled out of a fully financed nonbinding offer of $680 million for the company made with Choice Hotels Chairman Stewart Bainum. Because that offer no longer can be reasonably expected to lead to a “superior proposal” to the $633 million offered by Alden, Tribune Publish…

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HEDGE accordingly