Media Fortune Fame & Folly

Tribune still in the air

US news group Tribune Publishing continues to vacillate over its future. The company had accepted a deal from existing minority shareholder Alden Capital, despite opposition from its journalists who fear job losses. A competing higher bid from local hotelier Stewart W Bainum was inititially rejected but he has now teamed up with Swiss investor Hansjörg Wyss to improve the offer made through their Newslight entity, causing Tribune Publishing to re-examine the bids. The Newslight offer now values the company at $680m, against Alden Capital’s $630m. Alden may yet raise its own offer, of course.

Tribune Publishing