Chicago-based Tribune Publishing on Tuesday announced a proposed sale to hedge fund Alden Global Capital in a deal valued at $630 million. He acquired his initial interest in Tribune Publishing at $15 a share in 2016. Alden Global Capital is one of the nation’s largest publishers, with a major presence in California. Advertisement“Our commitment to ensuring the sustainability of robust local journalism is well established and this is part of that effort,” Alden Global Capital said in a statement Tuesday. Ferro sold his stake to Alden Global Capital.

Source: Los Angeles Times February 17, 2021 04:07 UTC