Tribune Publishing is said to reject McClatchy takeover bid

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The headquarters of Chicago Tribune.
The headquarters of Chicago Tribune. Credit: iStock

Tribune Publishing Co.'s talks over a potential takeover by McClatchy Co. have ended without a deal for the regional newspaper owner, according to people familiar with the matter.

Tribune Publishing rejected a fully financed cash-and-stock offer from McClatchy, said the people, who asked not to be identified as the details aren't public. Tribune Publishing is talking to other potential buyers, one of the people said.

Representatives for McClatchy and Tribune Publishing declined to comment.

McClatchy, along with Donerail Group and AIM Media, submitted bids for Tribune Publishing in November, people familiar with the matter said at the time. The company, which changed its name back from Tronc Inc. in October, owns publications including the Chicago Tribune, New York Daily News, Baltimore Sun and Hartford Courant.

In June, the company completed the $500 million sale of the Los Angeles Times to billionaire Patrick Soon-Shiong.

--Bloomberg News

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