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TRIBUNE PUBLISHING COMPANY

(TPCO)
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Tribune Publishing : says Swiss billionaire Wyss walks away from buyout bid

04/19/2021 | 08:33am EDT
Swiss medical device company Synthes Chairman of the board Wyss speaks during the general shareholders meeting in Solothurn

April 19 (Reuters) - Tribune Publishing Co said on Monday Swiss billionaire Hansjoerg Wyss had decided to leave a group that had made a $680 million approach for the owner of the Chicago Tribune and the New York Daily News.

The bid from Newslight LLC, which Wyss had earlier been a part of, will no longer be expected to lead to a "superior proposal," Tribune said in a statement.

The Baltimore Sun owner received an $18.50 per share offer from Newslight earlier this month that trumped an earlier proposal from hedge fund Alden Global Capital, the largest shareholder in Tribune.

The $17.25 per share agreement with Alden remains in place, and shareholders of the publishing company should vote in favor of the Alden deal, the company said.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Aditya Soni)


© Reuters 2021
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Financials (USD)
Sales 2020 746 M - -
Net income 2020 -39,0 M - -
Net cash 2020 25,8 M - -
P/E ratio 2020 -11,8x
Yield 2020 1,96%
Capitalization 636 M 636 M -
EV / Sales 2019 0,58x
EV / Sales 2020 0,59x
Nbr of Employees 2 865
Free-Float 95,0%
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Tribune Publishing Company Technical Analysis Chart | TPCO | US89609W1071 | MarketScreener
Income Statement Evolution
Managers and Directors
Heath Bradford Freeman President & Director
Michael Norman Lavey Chief Financial & Accounting Officer, Controller
R. Joseph Fuchs Director
Joshua P. Kleban Director
Michael J. Monticciolo Director
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