A hedge fund that owns a large stake in Tribune Publishing Co., Ltd. Trying to buy the newspaper chain behind titles such as the Chicago Tribune and the New York Daily News, Report Kara Lombard, Dana Chimirka And Lucas I. Alpert Of The Wall Street Journal.
Lombardo, Cimilluca and Alpert report: “Alden Global Capital LLC is Tribune’s largest shareholder, already holding a 32% stake, and is interested in acquiring a stake in a publisher that it does not yet own for $ 14.25 per share. Submission to Commission. Shares closed at $ 12.79 on Wednesday. The offer was made on December 14.
“The Wall Street Journal first reported Alden’s plans late Wednesday.
“The tribune has a market value of about $ 470 million after many years of sliding due to the diminished outlook of local newspapers. This year’s share has remained almost unchanged, with small quantities of 8.8% pre-marketing. It has risen. “
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Hedge funds are trying to buy the rest of Tribune Publishing
https://talkingbiznews.com/we-talk-biz-news/hedge-fund-seeks-to-buy-rest-of-tribune-publishing/ Hedge funds are trying to buy the rest of Tribune Publishing