U.S. Markets open in 3 hrs 50 mins
  • S&P Futures

    4,136.25
    -10.00 (-0.24%)
     
  • Dow Futures

    34,097.00
    -86.00 (-0.25%)
     
  • Nasdaq Futures

    13,290.75
    -55.25 (-0.41%)
     
  • Russell 2000 Futures

    2,184.00
    -19.30 (-0.88%)
     
  • Crude Oil

    65.68
    +0.40 (+0.61%)
     
  • Gold

    1,834.00
    -2.10 (-0.11%)
     
  • Silver

    27.50
    -0.17 (-0.60%)
     
  • EUR/USD

    1.2134
    -0.0018 (-0.1456%)
     
  • 10-Yr Bond

    1.6240
    0.0000 (0.00%)
     
  • Vix

    22.17
    +2.51 (+12.77%)
     
  • GBP/USD

    1.4123
    -0.0021 (-0.1455%)
     
  • USD/JPY

    108.7460
    +0.1260 (+0.1160%)
     
  • BTC-USD

    56,903.49
    +1,195.25 (+2.15%)
     
  • CMC Crypto 200

    1,542.59
    +1,299.91 (+535.65%)
     
  • FTSE 100

    6,994.87
    +46.88 (+0.67%)
     
  • Nikkei 225

    28,147.51
    -461.08 (-1.61%)
     

UPDATE 1-Tribune Publishing receives $680 mln buyout offer from Newslight

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

(Adds details on the deal, background)

April 5 (Reuters) - Tribune Publishing Co has received a $680 million takeover offer from Newslight LLC, a bid that trumps an earlier proposal from hedge fund Alden Global Capital for the owner of the Chicago Tribune and the New York Daily News.

Tribune said in a statement on Monday that its board had determined that the $18.50 per share proposal from Newslight, jointly owned by Choice Hotels International Inc Chairman Stewart Bainum and Swiss billionaire Hansjörg Wyss, was superior to Alden's bid.

Newslight's offer represents a premium of about 45% to Tribune's close before Alden made its first bid on Dec. 31. The Baltimore Sun owner's shares closed at $18.03 on Thursday.

New York-based Alden, the largest shareholder in Tribune, had offered $17.25 per share for the company in February for the stake it did not already own.

(Reporting by Eva Mathews in Bengaluru; Editing by Aditya Soni)