By William Turvill
Alden Global Capital, the hedge fund owner of Tribune Publishing, has made a $142m bid for US local media group Lee Enterprises.
The firm published a letter to Lee’s board of directors on Monday morning explaining why the offer would leave the company in a “stronger position”.
Lee Enterprises operates news, information and advertising businesses across 77 US markets. Its titles include the Arizona Daily Sun, the St Louis Post-Dispatch and the Buffalo News.
Source: Press Gazette
Deal value: $142m
Country: US
Status: Announced
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