Alternative bidders emerge for newspaper chain Tribune

[turbinetree]

By TALI ARBEL an hour ago



A group of alternative bidders is emerging for newspaper chain Tribune Publishing, which had agreed to a $630 million acquisition by hedge fund Alden Global Capital.

Over the weekend, The New York Times reported that a billionaire who lives in Wyoming, Hansjörg Wyss, was joining a bid for Tribune with Maryland hotel mogul Stewart Bainum. The Times reported that both would commit up to $100 million to the $650 million bid. The Wall Street Journal reported Monday that Mason Slaine, a Tribune investor who has previously said he wanted to buy the Tribune’s Florida papers, is also willing to commit $100 million in financing. In an email, Slaine confirmed his interest in joining the bid and owning the papers but said it depended on “diligence and terms.”

The Tribune board has endorsed Alden’s offer, but allowed Bainum to pursue financing for his bid.

https://apnews.com/article/media-newspapers-florida-publishing-maryland-5e41d2f105e3d90dc6a50fb80d7d82b7

[live love laugh]

1. Wyss seems like a good guy

“Hansjörg Wyss (born 19 September 1935) is a Swiss billionaire entrepreneur, businessman, and philanthropist. He is the founder and was president, then chairman, of Synthes USA, until its sale in 2012.

Wyss lives in Wyoming and has supported philanthropic causes relating to environmental protection, social justice, and science.

His contributions led to the establishment of the Wyss Institute for Biologically Inspired Engineering at Harvard University in 2009 and he created the Wyss Foundation, which aims to conserve natural environments, including public lands in the Western United States, Africa, South America, and South Australia. As of 2017, Wyss has a net worth of US$5.6 billion, according to Forbes.”

—Wikipedia

[Frasier Balzov]

2. What a different kind of newspaper the Trib could turn out to be!