Hedge fund launches bid for Tribune Publishing

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Hedge fund Alden Global said it’s made a $14.25-per-share non-binding proposal for the shares it doesn’t already own in Tribune Publishing
TPCO,
+0.31%.
The hedge fund, known for its deep cost cuts at other newspapers it holds, already owns 32% of Tribune, which publishes the Chicago Tribune and New York Daily News. Tribune closed Wednesday at $12.69 and has dropped 3% this year. Alden said in a Securities and Exchange Commission filing it hasn’t received any feedback yet on the bid. The Wall Street Journal had reported Alden was weighing a bid earlier on Thursday.

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