Name: Tribune is mum on potential sale to Alden Global Capital
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Tribune is mum on potential sale to Alden Global Capital

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SHAREA spokesman for Tribune Publishing, owner of the Chicago Tribune, declined to comment Thursday on a report it is discussing a sale to its largest shareholder, Alden Global Capital.The Wall Street Journal, citing sources, said a deal could be reached this month. Alden, holder of a 32% stake in Tribune, for $14.25. On Dec. 31, Tribune said it appointed a committee of independent directors to evaluate the terms, but it has not furnished comments since then. Lazard, the investment bank Tribune hired to advise it, did not return a message seeking comment. The company’s other properties include the New York Daily News, Baltimore Sun and the Orlando Sentinel. Alden, through its Media News Group, controls about 200 daily and weekly newspapers. The New York-based hedge fund is known for aggressive cost-cutting to combat ongoing declines in ad revenue.Tribune’s stock price has advanced since Alden’s offer. The shares closed Thursday at $15.63, up more than 2% for the day. The rally indicates investors believe Alden or some other buyer must improve on the $14.25 price.Next Up InMost ReadThe LatestAt least 22 Asian American candidates are running for offices in the November election and next year’s city elections, not to mention others running in other local races across the state.Thinking ahead to your next few meals? Here are some main dishes and sides to try.Ariel Reboyras will serve out the remainder of his term and call it a career — after 20 years as alderperson and 44 years in city government — when the new council is sworn in next May.Families struggling with infertility and undergoing in vitro fertilization, or IVF, may unwittingly become caught up in the political aftermath of this ruling.

SHAREA spokesman for Tribune Publishing, owner of the Chicago Tribune, declined to comment Thursday on a report it is discussing a sale to its largest shareholder, Alden Global Capital.The Wall Street Journal, citing sources, said a deal could be reached this month. Alden, holder of a 32% stake in Tribune, for $14.25. On Dec. 31, Tribune said it appointed a committee of independent directors to evaluate the terms, but it has not furnished comments since then. Lazard, the investment bank Tribune hired to advise it, did not return a message seeking comment. The company’s other properties...

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David Roeder

suntimes.com

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Tribune is mum on potential sale to Alden Global Capital

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