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Tribune Publishing to be Acquired by Alden Global Capital


Press release content from PR Newswire. The AP news staff was not involved in its creation.
Tribune Publishing to be Acquired by Alden Global Capital
February 16, 2021 GMT
CHICAGO, Feb. 16, 2021 /PRNewswire/ Tribune Publishing Company (NASDAQ: TPCO) (“Tribune” or the “Company”) and affiliates of Alden Global Capital (“Alden”) today announced that they have entered into a definitive merger agreement under which Alden will acquire all of the outstanding shares of Tribune common stock not currently owned by Alden for $17.25 per share in cash. Alden currently owns 11,554,306 shares of Tribune common stock, representing 31.6% of the Company’s outstanding shares.
The purchase price represents a premium of 45% to the closing price of Tribune common stock on December 11, 2020, the last trading day prior to receiving Alden’s proposal, a premium of approximately 35% to the closing price of Tribune common stock on December 30, 2020, the last trading day prio ....

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