In a letter on Saturday, Mr. Banyum informed the Tribune board about Mr. Wyse’s possible exit from the deal, stating that he would pay $ 18.50 after examining the company’s finances and discussing a possible settlement with other potential backers. Committed to the offer per share. .
“I believe there is significant interest in joining this effort and hope that the necessary arrangements between one or more additional equity financing sources can be rapidly completed,” Mr. Nanam wrote in the letter. He declined to comment for this article.
The Tribune’s special committee said in its statement on Monday that it is “in the best interests of the Tribune and its stockholders, subject to the terms of the Alden merger agreement, to carefully consider any further developments to determine the course of action” . “
The committee said that in keeping with the previous recommendation, its board would advise the company’s stockholders to vote in favor of the Alden deal.
The publishers of The Tribune, The Chicago Tribune, The Baltimore Sun, The Daily News and other metropolitan newspapers across the country are Alden’s largest shareholders since last year.