Hedge fund Alden to buy Tribune Publishing in deal valued at $630 million mcall.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mcall.com Daily Mail and Mail on Sunday newspapers.
As the Chicago Tribune prepares to move from Prudential Plaza, the owner of the downtown office complex, Sterling Bay, has sued the newspaper’s parent company for $4.8 million in unpaid rent.
The union representing the Chicago Tribune newsroom has called for the removal of three members of Tribune Publishing’s board who represent Alden Global Capital, the hedge fund trying to buy the newspaper chain and take it private.
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CHICAGO, Dec. 31, 2020 (GLOBE NEWSWIRE) Tribune Publishing Company (NASDAQ:TPCO) today announced that it has designated a special committee of its Board of Directors to act on behalf of the Company in respect of the acquisition proposal made by Alden Global Capital on December 14, 2020. The special committee consists of three independent members of the Board of Directors. The special committee has engaged Lazard as its financial advisor and Davis Polk & and Wardwell LLP as its legal counsel.
No assurance can be given that Alden s proposal, or any other transaction, will be consummated. The Company does not intend to disclose developments regarding these matters unless and until the special committee its Board of Directors determines there is a need to update the market.
New York hedge fund Alden looks to buy The Morning Call s parent company mcall.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mcall.com Daily Mail and Mail on Sunday newspapers.