Source: Swiss billionaire drops bid for Tribune Publishing
A Swiss billionaire has pulled out of a bid to buy the Tribune Publishing newspaper chain.
A person familiar with the matter said Sunday that Hansjörg Wyss has dropped out of the bidding, but a partner is still interested in buying the company.
The partner is Maryland hotel executive Stewart Bainum, who is now trying to line up other investors to join his bid.
Bainum was initially interested in buying one of Tribune’s papers, The Baltimore Sun, but is committed to acquiring the whole company. Two investors have expressed interest in buying Tribune’s Orlando Sentinel newspaper in Florida.