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 Florida Investor, Mason Slanie owns a 3.4% stake in the Tribune. He asserted that he would make the personal investment following the decision to acquire the publisher’s two Florida newspapers. The two Florida newspapers included the Orlando Sentinel and the Sun-Sentinel in Fort Lauderdale. “I am a Florida resident and I believe heartily in strong investigative journalism as a necessary part of creating a safe and honest society,” he wrote in an email to a group of reporters at the Orlando newspaper, according to a copy reviewed by the Journal.
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.