TPCO - Tribune Publishing gains on report of another investor potentially joining alternative bid

Tribune Publishing (TPCO) jumped to session highs, gaining 4.2%, after a Florida investor said he's willing to put $100M toward Maryland hotel magnate Stewart Bainum's  rival bid for the newspaper company.Mason Slaine, a technology investor who owns 3.4% stake in Tribune, told the WSJ that he would make the investment to acquire Florida newspapers the Orlando Sentinel and the Sun Sentinel in Fort Lauderdale.The WSJ report comes after the New York Times reported Saturday that a Swiss billionaire Hansjörg Wyss was willing to help Bainum with his bid for Tribune and was willing to contribute $100M towards the $650M bid, an offer that trumps Tribune's original deal with hedge fund Alden Global.A person familiar told the WSJ that Bainum didn't need additional investors after Wyss's pledge, though he was willing to talk to Slaine in order to include him in an offer or do a deal to sell him the Florida papers.Tribune last week

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Tribune Publishing gains on report of another investor potentially joining alternative bid