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Alden is in Talks to Acquire Tribune Publishing

Published by

December 5, 2024
(GMT+2)

A hedge fund that owns a big stake in Tribune Publishing Co. is in talks to acquire the chain behind titles including the Chicago Tribune and New York Daily News.Alden Global Capital LLC, Tribune’s biggest shareholder with a 32% stake, is in talks regarding a deal with the publishing company to acquire the shares it doesn’t already own. A deal for Tribune could be reached this month, though they cautioned that the negotiations are far from over and could still fall to pieces. Details could be taken into account. Tribune had a market value of roughly $560 million early Thursday. Aiden made an offer late last year to acquire the shares for $14.25 apiece. They have been trading over that level since the bid was disclosed, suggesting investors expect a deal at a higher price. Tribune stock was trading at roughly $15.13 Thursday afternoon. Alden made an offer late last year to acquire the shares for $14.25 apiece. They have been trading over that level since the bid was disclosed, suggesting that investors expect a deal at a higher price. Tribune stock was trading at around $15.13 Thursday afternoon.

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