Shareholders of Tribune, one of largest newspaper chains in U.S., approve $630M takeover bid by hedge fund

Shareholders of Tribune Publishing, one of the country’s largest newspaper chains, approved a $630 million takeover bid by hedge fund Alden Global Capital on Friday, the company said in a brief statement. Alden, which already owned nearly one-third of Tribune, stands to take full control of the Chicago Tribune, Baltimore Sun and other Tribune papers.

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