Alden Global Capital appears closer to buying Tribune Publishing.
In news release today, Tribune Publishing said it was told over the weekend that Swiss billionaire Hansjorg Wyss has dropped out of an offer for the company. The offer was made with Choice Hotels Chairman Stewart Bainum.
Tribune Publishing has stopped discussions with Bainum, says the Chicago Tribune.
“At this time, the Tribune Board continues to recommend, and has not withdrawn, qualified or otherwise modified its recommendation, that stockholders of Tribune vote in favor of the approval of the Alden Merger Agreement,” said the release.
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