Tribune Publishing No. 2 Shareholder Supports Sale

Oaktree Capital Group LLC, the second largest shareholder in Tribune Publishing Co, wants the U.S. newspaper company to explore a sale, people familiar with the matter said on Monday.

Oaktree’s support for a sale of Tribune, the owner of the Chicago Tribune, Los Angeles Times and Orlando Sentinel, could help Gannett Co Inc’s campaign to buy the company. Last month, Gannett made an unsolicited takeover offer for Tribune at $12.25 per share in cash, in a deal worth roughly $815 million.

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