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Tribune Publishing board receives ‘superior’ bid from Maryland hotel exec, Swiss billionaire

April 6, 2021
Crop black businesswoman reading newspaper near modern building

The board of Tribune Publishing Co. said the latest bid for the company from a Maryland hotel executive and a Swiss billionaire — $18.50 per share or an estimated $680 million — is “superior” to a previous bid from Alden Global Capital. The Chicago company (Nasdaq: TPCO) said the offer from Newslight LLC, owned by Choice Hotels Chairman Stewart Bainum and Swiss billionaire Hansjörg Wyss, is superior to the $630 million February offer, or $17.25 per share, made by Alden, which owns 32% of Tribune Publishing.

Article Source: Baltimore Business Journal

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