Donerail Group, McClatchy and AIM Media have put in bids
to buy Tribune Publishing Co., according to sources with knowledge on the bids,
Bloomberg reported.
Bids were due Nov. 1. The Tribune board was
set to meet in early November after the bids came in, said the sources, who
asked to not be identified.
Representatives for Tribune Publishing and
McClatchy declined to comment. Representatives for Donerail and AIM did not
respond to requests for comment, according to Bloomberg.
Tribune Publishing, previously known as Tronc,
owns the Chicago Tribune and The Baltimore Sun, Hartford Courant, Orlando
Sentinel, South Florida’s Sun Sentinel, the New York Daily News, the Capital
Gazette in Annapolis , Maryland ,
The Morning Call in Allentown , Pa. ,
the Daily Press in Newport News , Virginia , and The Virginian-Pilot in Norfolk
Sources say Tribune Publishing is seeking $17
to $20 per share, which would value the company at more than $700 million.
California-based McClatchy has more than 30
newspapers in 14 states. New York-based investment firm the Donerail Group is
led by ex-Starboard Value executive Will Wyatt. Texas-based AIM Media is run by
Jeremy Halbreich, a former chairman of Sun-Times Media in Chicago
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