Tronc Soars on Report That It May Sell Newspapers to Buyout Firm

Tronc Inc., the publishing chain that owns the Chicago Tribune, rallied the most in six months on a report that it’s considering a sale of its newspaper holdings to a private equity firm.

The proposed deal involves a bid of $19 to $20 a share, according to a story in the Tribune, which cited unidentified people close to the company. The offer could value the business at $700 million, the newspaper reported.