Hotel magnate Stewart Bainum Jr. is seeking a new financing partner in an attempt to outbid hedge fund Alden Capital for Tribune
Swiss billionaire Hansjorg Wyss has dropped his bid for Tribune Publishing after his associates did due diligence by examining its finances, according to a report in The New York Times. According to the report, Wyss, who is a medical device manufacturer, “had come to believe it would be difficult for him to realize his ambition of transforming The Chicago Tribune — the company’s flagship paper and the one he was most interested in — into a national publication.
