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

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.