TPCO - Swiss billionaire to help Maryland hotel magnate with Tribune Publishing bid

Swiss billionaire Hansjörg Wyss is said to be joining forces with Maryland hotel magnate Stewart Bainum in a bid for Tribune Publishing (TPCO) in attempt to trump the newspaper's deal with hedge fund Alden Global.Wyss, the former CEO of the medical device maker Synthes, agreed to provide $100m along with another $100m from Bainum for the $650m bid for Tribune, the New York Times reported, citing a person familiar. Wyss said he's willing to provide additional funds for debt financing.Wyss plans to own the Chicago Tribune, while he and Bainum seek benefactors for Tribune’s seven other metro dailies,  including The Orlando Sentinel and The Hartford Courant, Wysss told the New York Times in an interview.Tribune earlier this week revealed the $18.50/share bid from Bainum in a regulator filing (which at the time didn't include Wyss), though the company said the board still recommended the $17.25 deal with Alden.Wyss and his family

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Swiss billionaire to help Maryland hotel magnate with Tribune Publishing bid