- 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.