x

Economy

Chicago Tribune to Consider Alternative, More Lucrative Buyout Offer

The company that owns the Chicago Tribune and other major U.S. newspapers said Monday that it would discuss a $679 million bid from  hotel mogul Stewart Bainum and Wyoming billionaire Hansjörg Wyss that is higher than the $634 million offer from hedge fund Alden Global. 

The board's special committee said in a prepared statement that its decision lets Tribune "engage in discussions and negotiations with, and provide diligence information to Newslight," which is Bainum and Wyss' group. But for now it continues to recommend that shareholders choose Alden's offer.

Tribune Publishing Co. said it got a non-binding proposal from Newslight on Thursday, an offer of $18.50 per share that was fully financed by equity from Bainum and Wyss. 

The Newslight offer emerged after pushback from journalists at many of Tribune's paper against the Alden deal. Alden, one of the country's largest newspaper publishers, has a reputation for cutting costs and jobs in an industry already hollowed out by newsroom layoffs. 

Alden currently owns nearly one-third of Tribune's shares. 

A representative for Alden declined to comment Monday.

Bainum had previously sought to buy the Baltimore Sun as part of the Alden deal, but negotiations stalled.

RELATED

HOUSTON  — A federal judge on Friday ordered the liquidation of conspiracy theorist Alex Jones ′ personal assets but dismissed his company’s separate bankruptcy case, leaving the immediate future of his Infowars media platform uncertain as he owes $1.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

1 of 2 Abducted Louisiana Children is Found Dead in Mississippi after Their Mother is Killed

JACKSON, Miss. (AP) — A Louisiana woman was found dead in her home Thursday, and her two young daughters were abducted and found hours later in Mississippi — one dead and the other alive, police said.

Licensing your intellectual property rights (IP) to a third-party as an additional source of revenue through the commercial exploitation of your IP or for expansion purposes can be an effective strategy to grow your business and extend your reach.

Cyprus and the European Parliament weren’t ready for Fidias Panayiotou, who had no qualifications to run for a seat in the 720-member body, which made him more qualified than most of the people in there.

To the Editor: Greeks are well aware that U.

Joseph Kenworthy was a British member of parliament who disliked and distrusted prime minister David Lloyd George’s Near East foreign policy and support of the Greeks.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.