Hedge fund Alden, Tribune's largest shareholder, has offered to buy the rest of the newspaper publisher at a price that values it at $520.6 million. Alden sent a letter to Tribune on Dec. 14, according to a regulatory filing posted Thursday, offering $14.25 per share for the stock of Tribune it doesn't already own. The hedge fund said it had not received “any feedback” to its letter, which it described as a “preliminary inquiry." Tribune publishes nine major daily papers, including the New York Daily News, Chicago Tribune and Baltimore Sun. The unions at Tribune papers have pushed for alternative buyers for the company's papers.

Source: Daily Sun December 31, 2020 15:45 UTC