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NY Post: Apollo eyes acquisition of publishing empire Tronc

Apr. 13, 2018 11:47 AM ETTribune Publishing Company (TPCO) StockAPO, TPCOBy: Carl Surran, SA News Editor1 Comment
  • Tronc (TRNC +4.3%) is higher following speculation from the NY Post that Apollo Global Management (APO -0.7%) may be looking to buy the company, even as negotiations to sell its LA Times and San Diego Union-Tribune newspapers have stalled.
  • APO has talked with Tronc management along with a few other prospective acquirers that include at least one media company, according to the report.
  • The Post says Tronc has been scrambling to finalize a $500M deal to sell the two California papers to shareholder Patrick Soon-Shiong, and speculation is growing that the prospective buyer now is looking for a price reduction on the deal.

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