Thursday, May 13, 2021 |
Mostly Cloudy

Source: Swiss billionaire drops bid for Tribune Publishing

April 19, 2021

A Maryland hotel executive is trying to assemble new financing for a $680 million offer to buy Tribune Publishing after his partner, a Swiss billionaire, pulled out of the bidding for the newspaper chain. Stewart Bainum is talking to other potential investors after Hansjörg Wyss dropped out in the last few days, a person familiar with the matter said Sunday. Wyss told Bainum that it would require too much investment to turn the chain’s flagship Chicago Tribune into a nationwide publication, according to the person, who spoke anonymously because they were not authorized to discuss the private negotiations.

Article Source: WTOP

The Morning Rundown

We’re staying up to the minute on the issues shaping the future. Join us on the newsletter of choice for Maryland politicos and business leaders. It’s always free to join and never a hassle to leave. See you on the inside.