McClatchy has a new all-cash bid on Tribune Publishing that could emerge this week, according to The New York Post.
The bid is backed by banking adviser Evercore, The Post says.
It follows a rejected bid from two months ago at $16.50 a share, including $15-per-share in cash and $1.50 in stock. The new offer may be in the $15-per-share range, according to the source, The Post says.
McClatchy declined to comment, and Evercore and Tribune didn’t return Post calls looking for comment.
A source said Tribune and McClatchy held talks last week, the paper reported.
McClatchy’s properties include the Miami Herald and the Sacramento Bee. Tribune Publishing owns the Chicago Tribune, the New York Daily News and the Hartford Courant, among other publications.