Tribune Publishing is getting pressure from its second largest shareholder to sell to Gannett.
Oaktree Capital Management has told Tribune that Gannett is in the best position to return shareholder value to Tribune Publishing – the parent company of the Hartford Courant, Los Angeles Times and Chicago Tribune, among others.
This is the second time since Gannett’s original offer that Oaktree has publicly urged Tribune to accept the deal.
Earlier this week Gannett increased its offer to $864 million or $15 per share.
