Tribune Publishing Confirms Rival Bid

Tribune Publishing early Monday confirmed it received a revised, fully financed bid from a second suitor that “would reasonably be expected to lead to a ‘Superior Proposal’” over the bid received from Alden Global Capital.

In a news release, Tribune Publishing said the $18.50-per-share bid submitted April 1 by an entity named Newslight, jointly owned by Maryland hotel executive Stewart Bainum and Swiss billionaire Hansjorg Wyss, is fully financed.

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