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TRIBUNE PUBLISHING COMPANY

(TPCO)
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Tribune Publishing : to consider alternative, more lucrative buyout offer

04/05/2021 | 11:04am EDT

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.

Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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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%
Chart TRIBUNE PUBLISHING COMPANY
Duration : Period :
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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