A Florida Investor gauges his interest in joining an 11th hour-effort by a Maryland Hotel magnate to acquire Tribune Publishing Co. The prime objective is to wrest the company away from hedge fund Alden Global Capital, LLC. Mason Slaine, a technology investor and minority shareholder in Tribune, said that he is willing to commit $100 million towards a bid being put together by Stewart Bainum.
Stewart Bainum, chairman of Choice Hotels International Inc. trying to combine the efforts of various investors towards Tribune Publishing. Over the weekend, his effort received a significant boost when Swiss billionaire Hansjorg Wyss said he was encouraged by the overview. He decided to commit $100 million to the potential bid with the intention of eventually taking control of the Chicago Tribune.
The finalizing of the deal to acquire the stakes of Tribune Publishing will occur next week. Soon-Shiong vote will most likely make or break the Alden Bid to buy Tribune Publishing Co. In the last meeting of the SEC, the authorities said that the recent discussions did not upend an outcome. SEC said that the conversation did not lead to a transaction between the Florida Investor and Soon-Shiong.