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Rival Group Makes Fully Financed, Roughly $680 Million Bid for Tribune

April 5, 2021

A Maryland hotel magnate and a Swiss billionaire have made a bid for Tribune Publishing Co. that the newspaper chain is expected to favor over a takeover deal it already struck with hedge fund Alden Global Capital LLC. A special committee of Tribune’s board has determined that a roughly $680 million, $18.50-a-share bid submitted late last week by Choice Hotels International Inc. Chairman Stewart Bainum and Hansjörg Wyss is reasonably likely to lead to a proposal that is superior to Alden’s $635 million deal, people familiar with the matter said.

Article Source: The Wall Street Journal

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