Tribune Publishing — up until Oct. 4 known as Tronc — is inching closer to a potential merger with the McClatchy Co.
One source said the parties are “trying to fast-track it” now that billionaire LA Times owner Patrick Soon-Shiong is offering to sweeten a pending deal by kicking up to $150 million in cash into the pot.
That comes in addition to Soon-Shiong rolling his 25 percent stock holding in Tribune Publishing into the proposed new company. The other 75 percent of shares of Tribune — whose holdings include the Chicago Tribune, the Baltimore Sun and the struggling Daily News — will have to be bought out. Most are expecting that tab will eventually come to around $500 million.