Shareholders voted Friday to accept the offer from Alden Global Capital to purchase Tribune Publishing and all its newspaper properties including the Hartford Courant. The vote came in a virtual shareholders meeting.
Alden’s offer was $17.25 per share and is worth $454 million. The deal is expected to close at the end of June.
There has been concern inside Tribune Publishing newsrooms for months, as the deal has moved forward, about Alden’s expected attempt to make major cost reductions once it takes control, a move some believe will diminish the quality of the news product in cities across the country.
