Erik Sass, editor of Publisher's Daily, reports on Tribune Publishing adding an ally against Gannett's “hostile takeover” attempt. The new investor is Nant Capital, owned by billionaire Patrick Soon-Shiong.

Soon-Shiong’s purchase of 4.7 million shares of Tribune at the same price offered by Gannett – $15 per share – gives him a total stake valued at $70.5 million. That deal gives Nant Capital a 12.9% stake in Tribune, making it a close rival to Oaktree, the second-biggest shareholder with 14.8%. Not only will Soon-Shiong's investment add a layer of protection from Gannett, but will help fund the company’s tech-heavy “transformation strategy".
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